Culture

CDSL divestment: BSE net soars 12-fold to ₹524 crore

Titan Company's first quarter profit on standalone basis surged more than 106 percent to Rs 266.9 crore compared with year-ago quarter, backed by strong operational performance in jewellery as well as watch businesses. The bottomline was also supported by low base as Q1FY17 was hit by exception loss of Rs 95 crore.

Total income was up 11 per cent at ₹158 crore in the first quarter of this fiscal against ₹143 crore logged in the same period past year.

The sale of equity in its subsidiary has resulted in loss of control and, therefore, the profit from the sale of the investment in the subsidiary amounting to ₹451 crore has been credited to the consolidated financial results during the quarter ended June 30, said BSE in a statement on Thursday.

Bottomline and operating profit were ahead of estimates but margin was in line.

The firm's EBITDA (earnings before interest, taxes, depreciation and amortisation) increased by 16 per cent to Rs 71.61 crore from Rs 61.76 crore.

Turnover increased sequentially by 11.4 per cent to Rs 1,163.2 crore in quarter ending June 2017 against Rs 1,043.9 crore in quarter ended March 2017 and correspondingly up by 11 per cent against Rs 1,048.0 crore in quarter ended June 2016. BSE aims to grow both organically and inorganically. As a strategy, BSE strives to obtain leadership position in newer opportunities while consolidating and improving its market share inareas where it is at a competitive disadvantage.



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