Titan Company Ltd posted a 200 percent increase in its consolidated net profit to Rs 641 crore for the second quarter ended September 30, 2021.
Tata Group firm Titan Company Ltd on Wednesday posted a 270 percent increase in its consolidated net profit to Rs 641 crore for the second quarter ended September 30, 2021. In the corresponding quarter last year, the company posted a net profit of Rs Rs 199 crore.
Riding on the strong recovery in demand across its consumer businesses, Titan's revenue from operations at Rs 6,977 crore in Q2 FY22 witnessed a growth of 78 percent compared to Rs 3,927 crore in Q2 FY21 (excluding bullion sales in both years).
YoY growth, on a moderately benign quarter with low footfalls of the pandemic last year, was driven by healthy growth in all business segments with jewellery clocking 77 percent, watches & wearables at 72 percent and eyewear seeing 70 percent growth, respectively.
The results came after the close of the market hours. Shares of Titan Company Ltd ended at Rs 2,460.35, up by Rs 3.55, or 0.14 percent on the BSE.
(Edited by : Jomy Jos Pullokaran)
First Published: IST