Latest news with #R133
News18
08-05-2025
- Business
- News18
Titan's Net Profit Jumps 13% To Rs 871 Cr In Q4, Rs 11 Dividend Declared
Last Updated: Titan recorded a total income of Rs 12,730 crores in Q4FY25, a 22% growth from Q4FY24. Net profit grew 12.9% YoY to Rs 871 crores. The board approved a dividend of Rs 11 per share. Titan (consolidated) recorded a total income of Rs 12,730 crores, a growth of 22% in Q4FY25 compared to Q4FY24. EBIT grew by 23% YoY to Rs 1,470 crores, while PBT growth was 23% YoY to Rs 1,218 crores. The net profit grew 12.9 per cent YoY to Rs 871 crore in Q4 FY25, against Rs 771 crore in Q4 FY24. For the full year FY25, the Total Income of Rs 57,818 crores grew 22% over FY24. The EBIT grew 5% to Rs 5,488 crores and the PBT declined by 2% to Rs 4,355 crores, mainly due to the impact of custom duty reduction on gold during the year. Titan board approved a dividend of Rs 11 per equity share of Rs 1 each of the company which will be paid on or after 7th day from the conclusion of the 41st AGM. Jewellery (Tanishq, Mia & Zoya) Total Income for the quarter grew 25% over C14FY24 to R11,232 crores. The domestic India business grew 23% to Rs 10,845 crores during the same period driven by a strong 30% growth in gold jewellery and coins (together) and 12% growth in studded jewellery. Despite a steep increase in gold prices, the studded and gold coin segments saw buyer growths. Solitaires likewise witnessed a good rebound on the back of good buyer growth, albeit on the lower carat weights. The high gold prices, however, are continuing to weigh on consumer sentiment in the near term. EBIT for the quarter came in at Rs 1,331 crores at a margin of 11.9%. Watches & Wearables Business recorded a Total Income of q1,126 crores, up 20% over C14FY24. The domestic India business grew 18% to Rs 1,087 crores during the same period driven by a healthy 18% growth in analog watches. The premium brands of Titan, Raga and international brands (via Helios channel) continued to do well growing in double-digits during the quarter and clocking higher average price realizations than Q4FY24. Fastrack brand topped the growth charts clocking 44% growth followed by Sonata recording 25% growth (over their respective Q4FY24 numbers). Affordable fashion segments are seeing a resurgence on the back of recent product offerings. EBIT came in at R133 crores clocking a margin of 11.8% for the quarter. First Published: May 08, 2025, 19:42 IST
TimesLIVE
06-05-2025
- Business
- TimesLIVE
Sunoco to buy rival Parkland in $9bn deal
Sunoco will buy Canada-based Parkland in a deal valued at about $9.1bn (R166,457,655,000), including debt, the US fuel supplier said on Monday, a move that would create the largest independent fuel distributor in the Americas. Parkland management hailed the deal as a path to greater financial stability and growth. The company had undertaken a strategic review in March after persistent pressure from Simpson Oil, its largest shareholder with a nearly 20% stake, and activist investor Engine Capital. Simpson expressed its displeasure with the deal on Monday, a sign internal turmoil at the Canadian company is not over. Under terms of the deal, each Parkland share will be exchanged for C$19.80 (R261,86) in cash and 0.295 Sunoco unit, a 25% premium over the seven-day volume-weighted average price. Parkland cancelled its May 6 annual general meeting and instead scheduled a special meeting for June 24 at which Parkland shareholders will vote on the Sunoco transaction. In a statement on Monday, Simpson Oil, which had been trying to wrest control of the company's board by proposing its own proxy slate of board candidates, said it has applied for a court injunction to force Parkland to hold the annual general meeting on May 6 as initially planned. Simpson said Parkland's board is pushing ahead with the deal despite losing shareholders' confidence, calling it a "last-ditch attempt" by the company to retain control. Shares of Sunoco, which operates in wholesale fuel distribution and retail convenience, were down 5.6% at midday while those of Parkland were up 6.3%. The acquisition marks the company's second major deal in recent years. In 2024, Sunoco acquired fuel storage and pipeline operator NuStar Energy for $7.3bn (R133,488,521,240). The Parkland deal is expected to close in the second half of the year and deliver more than $250m (R4,570,880,000) in annual cost savings by the third year. Sunoco said the transaction will boost cash flow by more than 10% and allow the combined company to return to its target debt levels within 12 to 18 months of closing. To fund the cash portion, Sunoco has secured a $2.65bn (R48,451,328,000), 364-day bridge loan, a short-term facility often used to bridge financing gaps in large deals. On a call with analysts, executives said the companies will distribute more than 15-billion gallons of fuel annually and strengthen their position across wholesale and retail markets. Sunoco will keep investing in Parkland's Burnaby Refinery, which makes cleaner, low-carbon fuels, and run it for the long term to supply fuel to the Lower Mainland region in Canada.
