Festive season pushes up Titan sales, Q1 income, profit

‘Outlook for remaining quarters looks positive’

Bengaluru

Buoyed by a strong festive demand, Titan posted a total income of ₹8,649 crore, an almost threefold growth as against ₹2,890 crore in the year-earlier period.

Profit jumped to ₹1,066 crore from ₹82 crore in the same period last year, the company said in a statement.

Jewellery business income in Q1 trebled to ₹7,600 crore, compared with ₹2,467 crore in the corresponding period last year. However, this excluded bullion sales.

“The fiscal has begun well for us and we delivered a strong performance in the first quarter across our business segments,” said MD C.K. Venkataraman.

“Despite a challenging macro environment, the outlook for the remaining quarters looks positive and we continue to execute our investment plans in India as well as chosen international geographies,” he added.

During Q1, sales of Titan watches and wearables brought in revenues of ₹785 crore as against ₹292 crore last year. EyeCare and Eyewear business reported the highest quarterly income at ₹183 crore against ₹67 crore, a year earlier.