Titan Company posted a 10.85% decline in standalone net profit to Rs 419 crore on 17.64% rise in total income to Rs 7,324 crore in Q3 FY21 over Q3 FY20.The Tata Group enterprise reported a onetime exceptional loss of Rs 137 crore on account of scaling down of its subsidiary Favre Leuba AG (FLAG). Consequently, the company has performed an impairment testing of its investment in FLAG and has made a provision of Rs 137 crore towards impairment in the quarter and disclosed under exceptional items.
Profit before tax fell 1.4% to Rs 628 crore in Q3 FY21 over Q3 FY20. Total tax expense spiked 25.1% to Rs 209 crore in Q3 FY21 over Q3 FY20.
Titan Company after market hours on Friday announced that S. Subramaniam, the current chief financial officer, will retire from the services effective from 30 June 2021 on attaining the age of superannuation.
The company announced that, the Board of Directors has approved, on the basis of the recommendation made by the nomination and remuneration committee, Ashok Kumar Sonthalia as the new chief financial officer from 1 July 2021.
Titan said Sonthalia will be joining the company on 1 February 2021 and shall act as the chief financial officer designate until the time his appointment as CFO becomes effective from 1 July 2021, thereby providing adequate time for a smooth transition. Sonthalia is a Chartered Accountant with around 30 years of experience in areas of strategic financial planning, business development, M&A, treasury, finance & accounts in diverse industry verticals in multi-cultural and multi-national environments. Sonthalia s last stint was with Larsen & Toubro Infotech,
Published January 27, 2021 4:46pm With its approximately 11 hectares of gross floor area, Cebu Exchange strengthened its claim as the largest multi-certified sustainable office tower in the Philippines after being Pre-Certified under the International WELL Building Institute’s prestigious WELL Building Standard™ last December 2020. It currently stands as the largest Pre-Certified WELL™ building in the Philippines and the first outside Metro Manila. The points for WELL Building Standard™ pre-awarded to Cebu Exchange in this building design category are equivalent to Gold level pre-certification. A signature development of ARTHALAND and Hong Kong-based private equity real estate firm ARCH Capital, Cebu Exchange has already previously been Pre-Certified Gold in the US Green Building Council’s Leadership in Energy and Environmental Design (LEED®), as well as Design Certified 5-Stars in the Philippine Green Building Council’s Building for Ecologically Responsive Design Ex
January 25, 2021 WITH its approximately 11 hectares of gross floor area, Cebu Exchange strengthened its claim as the largest multi-certified sustainable office tower in the Philippines after being Pre-Certified under the International Well Building Institute’s prestigious Well Building Standard™ in December 2020.
It currently stands as the largest Pre-Certified WELL™ building in the Philippines and the first outside Metro Manila. The points for Well Building Standard™ pre-awarded to Cebu Exchange in this building design category are equivalent to Gold level pre-certification.
A signature development of Arthaland and Hong Kong-based private equity real estate firm Arch Capital, Cebu Exchange has previously been Pre-Certified Gold in the US Green Building Council’s Leadership in Energy and Environmental Design (Leed®), as well as Design Certified 5-Stars in the Philippine Green Building Council’s Building for Ecologically Responsive Design Excellence (Berd