Titan Q2 First Cut – Ebitda and EBITDA margin below expectation
·   Net profit Rs199cr (down 37% YoY ) – expectation Rs203cr,
·   Ebitda Rs294cr (down 44% YoY) – expectation Rs360cr,
·   Ebitda margin 6.8% vs 11.2% YoY - expectation 8%
·   Income Rs4318cr (down 7.4%). 
·   Jewllery EBIT margin 7.4% vs 10.9%