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NEW DELHI :
Stock of Titan Company Ltd fell greater than 5% in early commerce on Tuesday after the corporate reported a consolidated internet lack of Rs297 crore for the primary quarter ended 30 June of the fiscal yr 2020-21.
On the BSE, the inventory tumbled 5.19% to Rs1,050.20; and plunged 5.32% to Rs1,048.60 on the NSE.
Titan Company reported its earnings on Monday.
Total earnings of the Tata group-owned firm throughout the June quarter declined 61.21% to Rs2,020 crore as in comparison with Rs5,208 crore a yr in the past.
The earnings of the corporate had been impacted by decrease earnings because of the Covid-19 pandemic.
“The severity of the disruption in enterprise because of the pandemic impacted the corporate’s efficiency leading to an unprecedented loss for the corporate. The restoration in enterprise, significantly within the jewelry enterprise is encouraging and we count on to get again to normalcy by the fourth quarter of this yr,” Titan Company’s managing director C.Ok.Venkataraman mentioned in an announcement on Monday.
“The restoration fee of income began enhancing slowly and as of June it was 21% for the watches and wearables division, 77% for the jewelry division and 25% for the eyewear division,” the corporate mentioned.
By 12:39 pm, shares of Titan Company Ltd had been buying and selling at Rs1,064.65, down 3.90%, on the BSE; and at Rs1,064.85, 3.86% decrease, on the NSE.
The BSE Sensex index was buying and selling at 38,391.01, up 0.55%; and the Nifty 50 index at 11,323.20, 0.47% increased.
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