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Titan Q3 Results: Net profit rises to 9 per cent to Rs 1040 crore
Mumbai: The Titan Company announced its quarter 3 results on Thursday. In the financial year 2023-2024, profit rose to Rs 1053 crore, up 16.5 per cent compared to last year 2022-2023, Rs 904 crore. The company reported nine per cent YoY growth in Q3 results. Revenue figure increased from operations at Rs 13052 crore in this quarter which was Rs 10875 crore earlier. EBIT (Earnings before interest and tax) increased 11 per cent year on year basis at Rs 1478 crore, previously in the last financial year it was Rs 1328 crore. EBIT margin also declined by 116 points YoY (Year on Year) basis to 11.3 per cent. At the same time income from the Jewellery business rose 23 per cent to Rs 11709.
Tanishq’s jewellery segment reported total income for Q3 FY24 at Rs 11709, whereas it grew by 23 per cent compared to Q3 FY23. The growth is estimated to be high due to the festive season. The watches and wearable business records a total income of Rs 982 crore. It also scales up to 21 per cent compared to last year. Total revenue for the analog watch business reported Rs 810 crore. Titan’s eye care business segment recorded a total income of Rs 167 crore down by 4 per cent compared to the last financial year. Emerging businesses reported an Rs 112 crore net profit for the financial year 2023-2024. Taneira sales grew 61 per cent compared to FY 23.
Cartlane total income increased by 32 per cent worth Rs 893 crore in the last December quarter. EBIT came to Ra 82 crore with a margin of 9.2 per cent. Titan engineering and automation revenue rose 61 per cent YoY to Rs 202 crore.
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Maharashtra panel orders Lodha to refund Rs 5 crore to homebuyers
Consumer court flags unfair practices in long-running property dispute case
MUMBAI: In a sharp rebuke to one of India’s biggest real estate players, the Maharashtra State Consumer Disputes Redressal Commission has directed Macrotech Developers to refund nearly Rs 5 crore to a senior citizen couple, Uttam and Anindita Chatterjee. The ruling, delivered on March 13, 2026, calls out the developer for “deficiency in service” and “unfair trade practices”, bringing closure to a dispute that has stretched over a decade.
The case traces back to 2015, when the couple booked a 3-BHK flat at World Towers in Lower Parel for Rs 12.22 crore, with possession promised within a year. What followed was a series of changes that complicated matters. After deciding to exit the project, they were persuaded to shift to a 4-BHK in another development priced at Rs 8 crore, with delivery scheduled for 2018. However, within months, the price was allegedly increased to Rs 10 crore. After demonetisation reshaped the market, similar flats were reportedly being offered at lower prices, but the couple were not given the benefit.
Despite paying over Rs 2.83 crore, the couple neither received possession nor clarity. Instead, in 2018, the developer unilaterally cancelled the booking, retained part of the amount as earnest money, and argued that the buyers were investors rather than consumers. The commission rejected this claim, observing that casual references to “investment” do not take away consumer rights when the purchase intent is residential.
The bench also held that the developer could not penalise buyers for payment delays while failing to meet its own delivery commitments. It noted the lack of formal documentation for revised terms and termed the prolonged retention of funds without delivering a home as exploitative.
As part of its order, the commission directed the developer to refund Rs 2.83 crore paid by the couple, along with interest at 10 per cent per annum, amounting to around Rs 2.12 crore. In addition, Rs 1 lakh has been awarded for mental agony and Rs 50,000 towards litigation costs, taking the total payout to over Rs 5 crore. The developer has been asked to comply within two months.
For now, the ruling serves as a reminder that in real estate, shifting terms and delayed promises can carry a significant cost.
