Titan's Glittering Success: Jewellery Giant Reports Soaring Profits Amid Festive Cheer

Titan, a leading jewellery and watchmaker, saw its shares rise over 2% following a remarkable 59% jump in consolidated net profit for the September quarter. The company's total income increased by 28.5%, with a notable 29.3% growth in its jewellery business, driven by festive consumer momentum.

Titan's shares surged over 2% on Tuesday after the company reported a significant 59% rise in consolidated net profit for the September quarter. The stock hit a 52-week high on BSE and NSE amid an otherwise weak market.

The jewellery giant's profits soared to Rs 1,120 crore, up from Rs 704 crore a year ago, with total sales climbing 22.17% to Rs 16,461 crore. Titan's total income including other income also jumped 28.5%.

The company's jewellery business witnessed a robust 29.3% growth, buoyed by strong festive demand during Navratri, while domestic brands such as Tanishq and Mia contributed significantly to this success.