Titan Company has announced a significant 65% increase in consolidated net profit in the first quarter, propelled by strong jewellery sales, increased overseas revenue, and a boost in operating margins, as the company navigates market challenges and expands its global footprint.
Titan Company posted a sharp rise in first-quarter profit, with Business Today saying consolidated net profit climbed 65% year on year to ₹1,699 crore and revenue increased 24.3% to ₹18,101 crore. The company also reported stronger operating performance, with EBITDA up 57.1% to ₹2,564 crore and the margin widening to 14.2% from 11.2% a year earlier. It said the effect of higher customs duty on gold is stripped out, profit before tax rose 37%.
The jewellery business remained the main engine of growth. Business Today said jewellery revenue excluding bullion and digi-gold sales rose 43% to ₹18,253 crore, supported by Akshaya Tritiya, festive demand and a stronger exchange programme. In India, the combined Tanishq, Mia and Zoya business grew 38% to ₹15,502 crore, while CaratLane rose 40% to ₹1,441 crore. Overseas revenue jumped 136% to ₹1,309 crore, helped by a 65% rise in the Tanishq, Mia and CaratLane businesses and ₹396 crore from Damas.
Other parts of the group also performed well. Watches revenue rose 21% to ₹1,543 crore, while EyeCare increased 21% to ₹289 crore. Titan added 34 watch stores, six Titan Eye+ outlets and one Runway store during the quarter. Business Standard and Financial Express reported lower standalone profit and revenue figures of ₹1,091 crore and ₹16,523 crore, underscoring that market coverage used different reporting bases for the same period. Titan shares slipped 0.82% to ₹4,943 on Friday before the results were announced after the market closed.
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