Titan shares climb over 2% as it posts 9.7% rise in Sept quarter earnings

Shares of jewellery and watchmaker Titan Company Ltd on Friday rose over 2 per cent after the firm reported an increase of 9.7 per cent in its consolidated net profit in the September quarter.

The stock went up by 2.23 per cent to close at Rs 3,272.55 on the BSE. During the day, it jumped 2.66 per cent to Rs 3,286.70.

At the NSE, it gained 2.28 per cent to touch Rs 3,274.50.

Titan Company Ltd on Friday reported an increase of 9.7 per cent in consolidated net profit at Rs 916 crore in the second quarter of the current fiscal, led by sales of jewellery in the domestic market.

The company posted a net profit of Rs 835 crore in the July-September period last year, the Tata Group-managed firm said in a regulatory filing.

Titan's sales increased 25 per cent to Rs 10,708 crore during the quarter under review as against Rs 8,567 crore in the corresponding quarter a year ago.

Its total expenses in the quarter under review stood at Rs 11,402 crore, up 41.07 per cent year-on-year.