Titan Shares Tumble Following Profit Decline

Titan's shares fell nearly 4% after a 23% decline in Q2 net profit. Despite a rise in sales, the firm's expenses increased, affecting profit margins. The company's stock was the worst performer on BSE Sensex and NSE Nifty on Wednesday, while broader markets remained firm.

Titan's shares saw a significant dip of nearly 4% on Wednesday morning after the company reported a 23% slide in consolidated net profit to Rs 704 crore for the second quarter ending September 2024.

The stock fell 3.69% to Rs 3,113.65 on the BSE and was down 3.59% to Rs 3,114 on the NSE, marking it as the biggest underperformer among BSE Sensex and NSE Nifty companies during morning trades.

Even as broader markets remained upbeat, with the BSE Sensex climbing 277 points to 79,753.63 and the Nifty increasing by 102 points to 24,314.65, Titan struggled. The company did report a 25.82% increase in sales to Rs 13,473 crore in the reviewed quarter, but total expenses also rose 20.23% to Rs 13,709 crore, impacting profitability.