Titan Ltd Q2 net profit up at Rs 314 crore, revenue jumps 26 percent
today Nov 9, 2018
Tata Group firm, Titan Limited witnessed a 3 percent rise in its net profit to Rs 314 crore ($43.4 million) for the second quarter ended September 2018 in comparison to Rs 306 crore it had posted during the corresponding quarter last fiscal.
The company’s revenue jumped 26 percent to Rs 467 crore against Rs 444 crore last year.
The jewellery segment was the highest contributor to the company’s revenue followed by watches and eyewear.
The jewellery segment revenue grew 28 percent during the quarter at 3,582 crore, while its watches revenue grew 17 percent to Rs 676 crore. The eyewear revenue grew 19 percent to Rs 120 crore.
Commenting on the results, Bhaskar Bhat, managing director of Titan Ltd, said, "The Company has done well across all its businesses in the second quarter, delivering 26% growth over last year. The jewellery business picked up this quarter after a soft first quarter and the watches business had one of its best quarters with an extremely healthy growth in the bottom line for the first half. The eyewear business has picked up too with our investments in brand building showing results now".
Titan ended the quarter with 1540 stores for all its retail businesses - watches, jewellery, and eyewear.
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