Titan Ind Q3 net climbs over fivefold to Rs 75 cr

Watches and jewellery maker Titan Industries today said its net profit grew more than fivefold to Rs 75.43 crore for the third quarter ended December 31, 2009, over the corresponding period a year ago.

The company had a net profit of Rs 12.60 crore in the December quarter last fiscal, Titan Industries, belonging to Tata Group, said in a filing to the Bombay Stock Exchange (BSE).

The company's net income rose to Rs 1,333.60 crore for the quarter under review from Rs 1,023.81 crore during the same period previous year, it said.

For the nine-month period ended December 31, 2009, its net profit jumped up to Rs 199.07 crore from Rs 133.09 crore in the same period previous year.

Net income climbed up to Rs 3,363.20 crore in the nine-month period under review from Rs 2,922.65 crore during the same period last year.

The company's primary segments consist of watch, jewellery and others. Others include eye wear, precision engineering, machine building and clocks. The company has its manufacturing facilities at Hosur, Dehradun, Baddi and Roorkee.

Shares of the company closed at Rs 1498.80, down 1.45 per cent from the previous close on the BSE.