Titan sees sharp Covid-19 impact on Q4 revenue; eyewear segment drops 20%

Jewellery division revenue dips 5%; watches division sees flat growth

With shopping malls shut and weddings postponed, Titan's jewellery revenue for the division declined by 5 per cent in the January-March period due to lost sales in March in spite of 16.5 per cent sales growth in the preceding months of January and February, according to a quarterly update by the company.

“This implies March sales for the company’s jewellery division would have shrunk by half in our view,” said Abneesh Roy, Senior VP, Edelweiss Financial Services.

The watches and wearables division grew by 1 per cent despite significant loss of sales in the month of March, said the Bengaluru-headquartered