Titan stock zooms 17% on strong Q2 numbers

 

Shares of Titan were higher by 17% after company reported better Q2 results.

The company announced an exceptional growth in profits while reporting a growth of 28.9% in income in the second quarter. The income from operations in the second quarter, July to September 2017, was Rs 3378 crores against last year’s income of Rs 2620 crores during the same period. The income for April to September 2017, the first half of this financial year, stands at Rs 7322 crores registering a growth of 35.8% over last year.

The net profit for Q2 is Rs.305 crores, against Rs 178 crores last year, recording a growth of 70.9%. The net profit for the sixmonths ended September 2017 is RS 572 crores. The profit before tax is Rs 424 crores for Q2, a growth of 73.8% and Rs 795 crores for the first half, a growth of 89.1%.

The stock has hit a high of Rs.823 and a low of Rs.725.