Titan Biotech Ltd reports slide in consolidated profit to Rs. 3.26 crores for Q3FY23

TITAN BIOTECH LTD. has reported Consolidated financial results for the period ended December 31, 2022.

Financial Results (Q3 FY2023) - QoQ Comparison

The company has reported total income of Rs. 30.6115 crores during the period ended December 31, 2022 as compared to Rs. 42.6902 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs. 3.2616 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs. 9.1269 crores for the period ended September 30, 2022.

The company has reported EPS of Rs. 3.95 for the period ended December 31, 2022 as compared to Rs. 11.04 for the period ended September 30, 2022.

Financials	Q3 FY2023	Q2 FY2023	% Change
Total Income	₹30.6115 crs	₹42.6902 crs	-28.29%
Net Profit	₹3.2616 crs	₹9.1269 crs	-64.26%
EPS	₹3.95	₹11.04	-64.22%

Financial Results (Q3 FY2023) - YoY Comparison

The company has reported total income of Rs.30.6115 crores during the period ended December 31, 2022 as compared to Rs.36.6552 crores during the period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.3.2616 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs.5.2305 crores for the period ended December 31, 2021.

The company has reported EPS of Rs.3.95 for the period ended December 31, 2022 as compared to Rs.6.33 for the period ended December 31, 2021.

Financials	Q3 FY2023	Q3 FY2022	% Change
Total Income	₹30.6115 crs	₹36.6552 crs	-16.49%
Net Profit	₹3.2616 crs	₹5.2305 crs	-37.64%
EPS	₹3.95	₹6.33	-37.60%

Financial Results (9 Months Ended FY2023) - YoY Comparison

The company has reported total income of Rs.108.6143 crores during the 9 Months period ended December 31, 2022 as compared to Rs.120.5022 crores during the 9 Months period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.19.8930 crores for the 9 Months period ended December 31, 2022 as against net profit / (loss) of Rs.20.3460 crores for the 9 Months period ended December 31, 2021.

The company has reported EPS of Rs.24.07 for the 9 Months period ended December 31, 2022 as compared to Rs.24.62 for the 9 Months period ended December 31, 2021.

Financials	9 Months Ended FY2023	9 Months Ended FY2022	% Change
Total Income	₹108.6143 crs	₹120.5022 crs	-9.87%
Net Profit	₹19.8930 crs	₹20.3460 crs	-2.23%
EPS	₹24.07	₹24.62	-2.23%

Asset Quality:

Asset Quality	Q3 FY2023	Q2 FY2023	Q3 FY2022
Gross NPA	₹ crs	₹ crs	₹ crs
Gross NPA %	%	%	%
Net NPA	₹ crs	₹ crs	₹ crs
Net NPA %	%	%	%

Gross NPA was at ₹ crs in Q3 FY2023 against ₹ crs in Q3 FY2022. The same was at ₹ crs in Q2 FY2023.

Net NPA was at ₹ crs in Q3 FY2023 against ₹ crs in Q3 FY2022. The same was at ₹ crs in Q2 FY2023.

GNPA was at % of Gross advances as on December 31, 2022 as compared to % as on December 31, 2021 and % as of September 30, 2022.

Net NPA was at % of Gross advances as on December 31, 2022 as compared to % as on December 31, 2021 and % as of September 30, 2022.

Ratios	Q3 FY2023	Q2 FY2023	Q3 FY2022
RoA %	%	%	%
CAR (BASEL III) %	%	%	%

Return on Average Assets (RoA) is at % for Q3 FY2023 against % in Q2 FY2023 and % in Q3 FY2022.

In Q3 FY2023, Bank's total Capital Adequacy Ratio (CAR) was at %, as compared to % in Q2 FY2023 and % in Q3 FY2022.

Shares of TITAN BIOTECH LTD. was last trading in BSE at Rs. 266.00 as compared to the previous close of Rs. 278.00. The total number of shares traded during the day was 22552 in over 559 trades.

The stock hit an intraday high of Rs. 279.90 and intraday low of 262.00. The net turnover during the day was Rs. 6060739.00.

Source : Equity Bulls

Keywords

TitanBiotech Q3FY23 9MFY23 ResultUpdate