Suryaa Business Desk: Domestic corporate companies have reported mixed financial results for the second quarter of the current fiscal year. Titan Company Limited, part of the Tata Group, demonstrated strong performance, while Honda India Power Products shifted from profit to loss.
Titan Company’s consolidated net profit for the quarter more than doubled compared to the same period last year. The company benefited from festive season demand and a reduction in customs duty on gold. Growth was driven by sales in the Tanishq jewellery division, alongside healthy performance in the watches and eyewear segments, which strengthened the company's revenue and operating margins. These results led to significant buying support for Titan shares on stock exchanges.
Conversely, Honda India Power Products' results fell short of market expectations. The company’s profitability was impacted by a slowdown in exports due to geopolitical uncertainty in international markets, as well as increased domestic raw material prices and operating costs. After reporting a profit in the previous quarter, the company recorded a net loss in Q2, resulting in selling pressure on the stock.
