Titan’s stock has dropped almost 3% as a result of the March quarter’s results.

Titan Business Ltd’s stock fell more than 3% in morning trade on Wednesday, a day after the company reported a 7.21% drop in consolidated net profit for the fourth quarter ended March 2022.

On the BSE, the stock fell 3.59 percent to 2,300.80 rupees.

On the NSE, it fell 3.58 percent to 2,301.10 per share.

The Tata group firm recorded a 7.21 percent drop in consolidated net profit in the fourth quarter ended March 2022, to 527 crores.

Its overall income increased by 4.25 percent to Rs 7,872 crore in the current fiscal year, compared to Rs 7,551 crore in the previous fiscal year.

In the fourth quarter of 2021-22, the company’s revenue from product sales fell 1.14 percent to 7,267 crores, down from 7,351 crore the previous year