INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Titan Company on Friday said consolidated profit for December quarter jumped 35 per cent to Rs 416 crore, beating Rs 391 crore
net estimated by analysts in an ET Now poll.
The company had reported Rs 308.21 crore in the year ago period.
Sales for the quarter rose to
Rs 5,632 crore compared with Rs 4,174 crore in the same quarter last year
Jewellery business recorded 36.8 per cent growth in income at Rs 4,890 crore for the third quarter, compared with Rs 3,576 crore in the
The eyewear business sales grew 39.7 per cent at Rs 129 crore.
During the quarter, the company made an additional provision of Rs 70 crore
for investments, as part of Treasury operations in inter corporate deposits in the ILFS group.
Bhaskar Bhat, Managing Director of the
company said: “The festive quarter of 2018-19 turned out to be one of the best quarters for jewellery as well as for other businesses -
Our new product launches have received a very good response
The topline growth was driven by these new introductions, some successful activations as well as measured network expansion."
Bhat said
Titan’s retail network across businesses has crossed the 2 million square feet mark This momentum is expected to continue and help us
achieve our annual targets
Titan Company’s retail chain was 1,574 stores strong as of December 31, with retail area touching 2.02 million
