Titan misses quarterly profit estimates on high costs
Titan reported a quarterly profit of 11.79 billion rupees, missing analyst estimates as high material costs and advertising expenses offset steady gold demand.
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Xurve View
Titan reported a quarterly profit of 11.79 billion rupees ($124.60 million), missing market estimates as surging raw material costs pressured margins. The result fell 15.3% short of the 13.92 billion rupees average analyst estimate compiled by LSEG. Investors are weighing the impact of record bullion prices on the profitability of India's largest jewelry retailer.
