Titan is part of the Tata Group that is in turmoil after Tata Sons Ltd’s chairman, Cyrus P. Mistry, was ousted. Bengaluru: Titan Co. Ltd, maker of watches and jewellery, reported a 23.51% rise in net profit to Rs180.76 crore in the September quarter, compared to a year-ago period, on improved gross margins and benefits of a cost-cutting programme that was rolled out in April. Still, both net profit and sales missed Street expectations of Rs192.20 crore and Rs3,040.20 crore, respectively, according to analysts surveyed by Bloomberg. Titan is part of the Tata Group that is in turmoil after Tata Sons Ltd’s chairman, Cyrus P. Mistry, was ousted. At 2.45pm, Titan’s shares fell 2.07% to Rs368.85 on BSE, while India’s benchmark Sensex index fell 0.65% to 27251.39 points.

Source: Mint November 04, 2016 10:16 UTC