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Titan Industries Q3 PAT rises 24% at Rs 203.7 cr

The company had posted a profit after tax of Rs 163.91 crore in the corresponding period previous year, Titan Industries said in a filing to the BSE.

New Delhi: Tata group firm Titan Industries on Wednesday reported 24.29 percent increase in its standalone profit after tax for the quarter ended December 31, 2012, at Rs 203.73 crore.

The company had posted a profit after tax of Rs 163.91 crore in the corresponding period previous year, Titan Industries said in a filing to the BSE.

The standalone net income during the third quarter also went up by 23.68 percent to Rs 3,017.80 crore from Rs 2,440.10 crore in the year-ago period, it added.

Commenting on the numbers, Titan Industries Managing Director Bhaskar Bhat said: "The third quarter has been a good quarter for the company and overall sales trend is encouraging. Consumer sentiment is turning positive with the stock markets picking up."

There has been an increase in footfall and the festive season in this quarter was a good one for all the brands, he added.

Shares of the company closed 2.09 percent up at Rs 275.45 apiece on the BSE.

PTI