Titan Industries ended the third quarter October-December 2006 with a sales turnover of Rs. 542.21 crores, registering a significant growth of 42% over the third quarter of last year. Profit after Taxes during this period rose by 157% to Rs. 27.72 crores.
The first nine months of the financial year have witnessed substantial growth in sales turnover of the Company by 46%, which increased from Rs.1047.22 crores last year to Rs. 1530.63 crores this year and this was higher than the annual turnover of the Company last year of Rs. 1481 crores.
For the nine months period, profit after taxes was Rs. 63.81 crores as against Rs. 36.41 crores during the same period last year.
Both the Watch Division and the Jewellery Division grew their businesses. The Watch Division clocked a sales growth of 16% as it grew from Rs. 459.58 crores last year to Rs. 535.98 crores this year. Jewellery grew substantially by over 69% by achieving Rs. 951.65 crores as compared to Rs.562.82 crores during the corresponding period last year.
As this note goes to the Press, Tanishq jewellery sales for the current year have crossed the landmark figure of Rs.1000 crores. The Company's international business also grew by 34% during this period.
All this has helped the Company to maintain its clear leadership in the several segments and markets it operates in, and this augurs well for its confidence as it gears up to expand its operations and is on the threshold of launching into the prescription eyewear business.
marketing@alchempro.com
