desk
Share
News Topical, Digital Desk : Titan has announced its quarterly results, reporting strong growth across all fronts. The company said it benefited from continued festive demand. Despite the strong results, its profits fell slightly below market expectations. The company was impacted by the labor code during the quarter, leading to a slight decline in profitability. Revenue met expectations, while EBITDA and margins were better than expected. The Sensex-listed company's results were released after Tuesday's close. The stock closed with a slight gain during the session. The company's net profit increased 48.5% year-on-year to ₹1,470 crore, compared to ₹990 crore in the same period last year.
Business performance in the jewelry segment: The company's portfolio grew 42% year-on-year to approximately ₹22,517 crore (excluding bullion and digi-gold sales). According to the company, this strong growth was driven by impressive festive collections, effective brand campaigns, and efficient exchange initiatives, reflecting strong festive demand despite high gold prices. Meanwhile, Titan launched the beYon brand from the 'House of Titan' as a new venture into lab-grown jewelry. It is a fashion-forward, affordable studded jewelry line. The watch segment also performed well. This portfolio grew 14% to approximately ₹1,295 crore, driven by festive gifting and continued consumer preference for analog watches. During the quarter, Titan further strengthened its watchmaking capabilities and launched Titan Stellar 3.0, a festive collection based on an astronomy theme.
--Advertisement--
