The performance indicators at Titan Industries are moving at a fast pace. Continuing on the robust path of its first quarter performance, the Company's net profit increased substantially by 56 percent in the second quarter to Rs. 32.18 crores from Rs. 20.60 crores last year.
When compared to the first quarter of this year, the increase is almost eight times. The Company registered an income of Rs. 539.04 crores, which was an increase of 47 percent as compared to Rs. 366.06 crores, during the corresponding period last year.
All the Company's businesses are faring well, with the core businesses - Watches and Jewellery, growing significantly over the previous year.
Jewellery income grew by 72 percent to Rs. 296.90 crores from Rs. 172.67 crores last year, spurted by an increased demand for jewellery on account of the reduction in gold prices.
The Company's Watch sales also grew by over 21 percent, with its income increasing from Rs. 185.02 crores last year to Rs. 224.86 crores this year.
The first half of the current year has shown a good growth. Net profit has increased by over 41 percent, from Rs.25.63 crores last year to Rs.36.27 crores this year.
Watch sales grew by 20 percent to Rs.373.54 crores and Jewellery sales have grown by a spectacular 73 percent to Rs.585.15 crores. Total sales are up by 48 percent from Rs.665.63 crores last year to Rs.988.43 crores this year.
The Company continues to invest in brand building and advertising, which is yielding tangible results. For successive years now, both Titan and Tanishq have been winning accolades for being amongst the most admired brands in the country.
More recently, the Company's retailing chains have also been acknowledged as benchmarks in customer experience, both in India and abroad. Clearly the good performance in the second quarter augurs well for the festive season ahead.
marketing@alchempro.com
