Titan Industries Q4 net up 28 pc at Rs 185 crore

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Tata Group firm Titan Industries Ltd today posted 28.20 per cent rise in net profit at Rs 184.97 crore for the fourth quarter ended March 31, 2013.

The company had posted a net profit of Rs 144.28 crore in the same period of previous fiscal.

Net sales of the company rose to Rs 2,593.13 crore for the fourth quarter, compared to Rs 2,258.05 crore in the same period of previous fiscal.

For the year ended March 31, 2013, the company posted a net profit of Rs 725.18 crore, as against Rs 600.15 crore in the 2011-12 fiscal.

The company’s net sales for the year ended March 31, 2013, rose to Rs 10,009.05 crore, compared to Rs 8,744.40 crore in the previous fiscal.

Commenting on the results, Titan Industries Managing Director Bhaskar Bhat said the 2012-13 fiscal turned out to be a fruitful year for the company with healthy growth.

“Given the high expectations of all our stakeholders and aspirations of our employees, we move confidently into the new financial year with aggressive plans,” he added.

The company’s board, which met today, recommended a dividend of Rs 2.10 per share (210 per cent).

Shares of Titan Industries today closed at Rs 270.60 on the BSE, down 1.17 per cent from its previous close.

Source : The Economic Times

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