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Titan Company Q3 PAT falls 11% YoY to Rs 419 cr


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. ....

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