Titan delivered a strong quarter with its core jewellery business growing 18.8 per cent year-on-year (Y-o-Y), backed by 14 per cent like-to-like (LTL) growth.
With gold prices correcting from its high and festive pickup in sales, ICICI Securities expects Titan's EBIDTA margins to sequentially improve in Q3 with better margins in its core jewellery business.
In Q2, amid record-high gold prices and a high base effect stemming from the customs duty cut in the same period last year, revenue grew 6.5 per cent Y-o-Y
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