Titan Shares Jump 5% After Strong Q4 Results — Rekha Jhunjhunwala Gains ₹700 Crore in a Day
Titan Company’s stock had a great day on the market after the company announced its earnings for the last quarter of the financial year. The shares went up by 5%, and this one-day rise added about ₹700 crore to Rekha Jhunjhunwala’s wealth — one of the largest shareholders in Titan.
What Did Titan Announce?
Titan, which is famous for brands like Tanishq, Titan watches, Fastrack, and Titan Eye+, reported strong results for the January to March 2024 period.
The company made a profit of ₹786 crore in the last quarter — which is around 7% more than what it earned in the same quarter last year. Its total income (revenue) went up 17%, reaching ₹10,047 crore. That means more people bought their products this quarter, especially jewelry.
Even though Titan made more sales, their profit margins — how much money they keep after costs — came down slightly. That’s because gold prices have been very high lately, which affects how much money they make from selling jewelry.
Jewelry Sales Are Still Shining
The jewelry business is Titan’s biggest strength, and it continued to do well. Sales from this division went up by 19%, which is a big jump. The Indian part of the business did even better, growing by 20%. Titan also opened new stores in Dubai and Chicago, showing that they’re expanding outside India too.
Watches and Eyewear Business Grows Too
Titan’s watch and wearables division also did well, bringing in ₹940 crore in revenue — 8% higher than last year. They’ve been trying to make more high-end, stylish watches, which seems to be working.
In the eyewear division (Titan Eye+), sales stayed the same as last year, but they’re holding steady. Meanwhile, Titan’s newer businesses — like Taneira (which sells sarees), perfumes, and fashion accessories — grew by 26%. However, they still posted a small loss this quarter, which is common for newer divisions still trying to grow.
How Rekha Jhunjhunwala Benefited
Rekha Jhunjhunwala is a major investor in Titan. Her late husband, Rakesh Jhunjhunwala, was one of the earliest believers in the company. After the 5% jump in Titan’s share price today, the value of her holdings in the company rose by about ₹700 crore — in just one day.
That’s the power of having a big stake in a company that performs well.
What’s Next for Titan?
Even though Titan is growing and making good profits, rising gold prices could make things tricky in the short term. But the company is still expanding, has strong brands, and continues to launch new stores and products — which is why many investors are optimistic about its future.