Other apparels & accessories company Timex Group India announced Q1FY24 results: Timex India has reported a remarkable surge in revenue, achieving a substantial growth of 13%. Focus on marketing investment in Q1FY24 was high including an association with Gujarat Titans in IPL. Thus, EBIDTA delivery has been lower over last year by 44% owing to aggressive marketing initiatives. E-commerce sales have almost doubled against Q1FY23, and the luxury segment has also shown significant growth of 86% during Q1FY24. This indicates the broad appeal of Timex products and the company's ability to cater to diverse consumer preferences. Deepak Chhabra, Managing Director of Timex Group India, shared his enthusiasm, stating, "We are pleased with the encouraging results achieved in this quarter. Timex's growth trajectory showcases our unwavering commitment to delivering quality products. Our investments in brand building, strategic partnerships, and expanding retail presence have been pivotal in our success. We remain dedicated to pushing boundaries and setting new industry standards." Result PDF
Apparels & Accessories company Timex Group India announced Q4FY23 & FY23 results: Net profit after tax (PAT) for the year grew over 14 times, reaching Rs 46.52 crore in FY23, vs Rs 3.2 crore in FY22 PAT for Q4FY23 grew 895% over Q4FY22, closing at Rs 22.39 crore. One-time recognition of deferred tax assets of Rs 16.84 crore in Q4FY23 has positively impacted these results for the quarter and fiscal year. Revenue for FY23 saw a growth of 45% over FY23, closing at Rs 383.78 crore, up from Rs 265.54 crore in FY22 For Q4FY23, revenue grew by 5% from Rs 79.81 crore to Rs 83.35 crore. Expressing his enthusiasm, Deepak Chhabra, Managing Director, said, "We are delighted to announce our strong results for the Financial year 2022-23, which showcase Timex's remarkable growth and success in India. Our commitment to innovation, customer delight, and strategic expansion has propelled us forward in the industry. We take immense pride in our core Timex portfolio growth and huge strides into the e-commerce sector, which has allowed us to reach a wider customer base and achieve exceptional sales figures. This achievement is a testament to our dedicated team, loyal customers, and unwavering focus on delivering exceptional products and experiences. We remain committed to pushing boundaries, embracing change, and maintaining our position as a leading force in the watch industry." Result PDF
Other apparel & accessories firm Timex Group India announced Q3FY23 results: Q3FY23 & 9MFY23: Total income at Rs 8,465 lakh (grown by 29%) during the quarter as compared to Rs 6,562 lakh last year. During the nine months, revenue has grown by 62% over last year. EBIDTA is at negative Rs 406 lakh for Q3FY23 as compared to negative Rs 379 lakh last year. EBIDTA for 9MFY23 is at Rs 3,099 lakh as compared to Rs 513 lakh last year. Profit before tax for Q3FY23 is at negative Rs 669 lakh as compared to negative Rs 510 lakh last year. Profit before tax during 9MFY23 is at Rs 2,413 lakh as compared to Rs 97 lakh last year. Other expenses include advertising & sales promotion expenses of Rs 932 lacs during the quarter as compared to Rs 891 lakhs last year and Rs 2,286 lakhs during the nine months as compared to Rs 1,793 lakhs last year. Result PDF
Apparels & accessories firm Timex Group India announced Q2FY23 results: Total Income at Rs. 12,125 lakhs (grown by 38%) during Q2FY23 as compared to Rs. 8,802 lakhs in Q2FY22. During the H1FY23 revenue has grown by 80% over H1FY22. EBIDTA is Rs. 2,047 lakhs (grown by 60%) during Q2FY23 as compared to Rs. 1,283 lakhs in Q2FY22. EBIDTA for H1FY23 is at Rs. 3,415 lakhs compared to Rs. 892 lakhs for H1FY22. Profit before tax for Q2FY23 is Rs. 1,881 lakhs (grown by 66%) as compared to Rs. 1,135 lakhs in H1FY22. Profit before tax during the half-year is at Rs. 3,082 lakh compared to Rs. 607 lakhs in H1FY22. Other expenses include advertising & sales promotion expenses of Rs. 629 lakh during Q2FY23 as compared to Rs. 563 lakhs in H1FY22 and Rs. 902 lakhs during the half-year as compared to Rs. 1354 lakhs in H1FY22. Result PDF