Titan net rises to Rs 27 crore

BS 200 SCORECARD

Titan Industries has nearly tripled its net profit to Rs 27.5 crore for the quarter ended December 31, 2006 compared with Rs 10.7 crore for the quarter ended December 31, 2005.

Total income (net of excise) has increased by 43 per cent from Rs 370.7 crore for the quarter ended December 31, 2005 to Rs 530 crore for the quarter ended December 31, 2006. The operating profit too has almost doubled to Rs 54.2 crore.

Tanishq, the jewellery business contributed a little more than 50 per cent during the quarter and grew by nearly 64 per cent Y-o-Y.

The first nine months of the financial year saw a substantial growth in sales turnover by 46 per cent to Rs. 1530.63 crore from Rs 1047.22 crore in the year-ago period and this was higher than the last year's annual turnover of Rs 1,481 crore.

For the nine months period, profit after taxes was Rs. 63.81 crore against Rs. 36.41 crore during the same period last year.

Both the watch and jewellery divisions grew their businesses. The watch division clocked a sales growth of 16 pre cent as it grew from Rs 459.58 crore last year to Rs 535.98 crore this year.