Titan's Golden Quarter: Festive Sales Surge Amid Net Profit Dip

Titan reported a slight decline in its net profit to Rs 1,047 crore for the December quarter despite a 25.68% sales increase. The jewellery segment grew significantly, with secondary sales driven by heightened gold prices and wedding purchases. Titan expanded its retail footprint with additional stores.

Titan, the leading jewellery and watchmaker, revealed a small drop in consolidated net profit to Rs 1,047 crore in the December quarter, compared to Rs 1,053 crore in the same quarter the previous year, according to regulatory filings.

Despite this profit dip, the company experienced a robust 25.68% surge in sales, reaching Rs 17,550 crore for the quarter under review. Total expenses rose by 27.47% to Rs 16,472 crore, while total income climbed 24.9% to Rs 17,868 crore.

Titan's jewellery business jumped 26.62% to Rs 16,134 crore, largely due to consumer enthusiasm during the festive season, boosted by higher gold prices. Meanwhile, the company's watches and wearables segment increased by 15.31% to Rs 1,137 crore, and its eyecare segment revenue grew 16.66% to Rs 196 crore.