Titan: Investors advised to wait until more clarity emerges on recovery

Topics Titan Company | Investors | Lockdown

Titan’s top-line performance in the June 2020 quarter (Q1) and business recovery updates look good on a reported basis, but a close look indicates that good times are far away. Unsurprisingly, Titan's stock fell 3.7 per cent on Tuesday, even as the Sensex was up 0.6 per cent. On a standalone basis, Titan reported a 62.3 per cent year-on-year  (YoY) decline in revenue in Q1 toRs 1,862 crore, which was better than the consensus estimate of Rs 1,815 crore. This was partly supported by other operating income of Rs 601 crore from sale of gold ingots. Excluding gold ingot sal.....

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