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The growth momentum witnessed in the first quarter of the current fiscal has continued in July, Titan Managing Director Ajoy Chawla said, adding that the company is on course to deliver the improvement targets after a strong start this fiscal year. "The growth we have seen in the first quarter, and we are also seeing that July is not bad. I am seeing a certain positivity so far in the last four months," Chawla said, addressing analysts after the company's June quarter earnings. While acknowledging that near-term performance would depend on external factors, he said Titan remains on track to achieve the growth trajectory outlined earlier and could even do better this year. "We think we are on trajectory for delivering the kind of growth that we had promised on the Investor Day, and we hope that we can, in fact, better it in the current year because we have started very well," he said. On the jewellery business, which contributes around 90 per cent of Titan's topline, Chawla reiterat
Leading jewellery and watchmaker Titan Company Ltd on Friday reported a 62.87 per cent rise in consolidated net profit to Rs 1,777 crore for the June quarter of FY27, led by jewellery business. The company had posted a net profit of Rs 1,091 crore in the April-June period a year ago, according to a regulatory filing. Its sales were up 40.31 per cent year-on-year at Rs 20,787 crore in the June quarter of FY27, from Rs 14,814 crore in the corresponding quarter a year ago. Total expenses of Titan increased 26 per cent YoY to Rs 19,075 crore in the June quarter. Its Jewellery business, which contributes around 90 per cent of the business, was up 29.73 per cent to 19,002 crore in Q1 FY27, compared to Rs 14,647 crore in the corresponding quarter of the preceding fiscal. Titan's total consolidated income increased 29.3 per cent to Rs 21,502 crore in the quarter under review. Shares of Titan Company Ltd on Friday settled at Rs 4,943 apiece, down 0.82 per cent, on the BSE.