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Titan Company Ltd’s consolidated net profit for the quarter ended in September of the current fiscal year, reported an 8.34 per cent rise to Rs 301.11 crores as compared to the net profit of Rs 277.93 crores for the July-September period of the last fiscal, due to the provisions made for its corporate deposits in the IL&FS group.
According to the company’s regulatory filings, the total income during the quarter under review stood at Rs 4,595.13 crore whereas, in the corresponding period of last fiscal, it stood at Rs 3,603.01 crores.
Titan said in a statement that during the second quarter of the current fiscal, Titan’s revenues from jewellery business surged 29 per cent to Rs 3,582 crores, meanwhile, revenues from watches jumped by 17 per cent to Rs 676 crores. Eyewear segment revenue increased by 19 per cent to Rs 120 crores in the said quarter.
Titan Company Managing Director Bhaskar Bhat stated, “The jewellery business picked up this quarter after a soft first quarter and the watches business had one of its best quarters with an extremely healthy growth in the bottom line for the first half. The eyewear business has picked up too with our investments in the brand building showing results now.”
