Published
Feb 4, 2020
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Titan Ltd Q3 profit rises 13 percent to Rs 637 crore

Published
Feb 4, 2020

Titan Company Limited witnessed a 13 percent rise in its net profit to Rs 470 crore ($66 million) for the quarter ended December 2019, as against Rs 416 crore it had reported in the same period last year.
 

Titan Ltd Q3 net profit rises 13 percent to Rs 470 crore - Tanishq - Facebook


The company’s sales revenue for the October-December quarter rose 8 percent to Rs 6,106 crore from Rs 5,632 crore in the same quarter last year.
 
The jewellery business grew 11 percent during the quarter under review, contributing Rs 5,409 crore to the company’s overall revenue, as compared to Rs 4,890 crore last year. Titan’s watches and eyewear business contributed Rs 625 crore and Rs 133 crore respectively.

Commenting on the Q3 results, C K Venkataraman, managing director of Titan Ltd in a statement said, “The growth we saw during the festival period of October and November was very encouraging. The month of December 2019 witnessed a drop in footfall across all our retail formats compared to the previous two months and hence the sales were muted. The retail growth for our jewellery business was healthy in Q3 on account of a good wedding season.”
 
“Many new products are lined up for launch in the last quarter and we will continue to invest in our brands and delight our customers with fascinating products coupled with memorable advertising,” he added.
 
Titan Ltd ended the third quarter with 1,709 retail chains across India for all its brands.

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