Titan Q2 net profit rises to Rs 312 cr on higher jewellery biz growth

Tata Group firm Titan Company Ltd on Tuesday posted a 3.5 per cent increase in its consolidated net profit at Rs 311.65 crore for the second quarter ended September 30.

The company had reported a net profit of Rs 301.11 crore for the July-September period of 2018-19.

Its total income in the September 2019 quarter rose to Rs 4,693.34 crore, compared with Rs 4,595.13 crore in the year-ago period, Titan Company said in a regulatory filing.

"The company has done well across all its businesses in the second quarter given the subdued market and consumer sentiments. The jewellery business has done better than most players in the industry," Titan Company Managing Director C K Venkataraman said.

Both the watches as well as eyewear businesses have recorded good growth in July-September 2019, he added.

"For the second half of the current fiscal, we are gearing up on all fronts to stimulate demand with innovative campaigns for new exclusive collections that are lined up for launch across all our brands," Venkataraman said.

The company's retail chain number stood at 1,668 stores at the end of on September, while retail area crossed 2.1 million square feet nationally for all its brands, Titan Company said.

Shares of the company on Tuesday ended 1.2 per cent down at Rs 1,283.85 apiece on the BSE.