Titan Q2 2022 results: Company posts profit of Rs 857 crore
Titan Company has a net profit of Rs 857 crore in the September 2022 quarter. Titan’s profit grew 33.7% compared to the September quarter last year. Titan had a net profit of Rs 641 crore in the July-September quarter of last year. Shares of Titan Company closed at Rs 2768.30 on the Bombay Stock Exchange (BSE) on Friday. The 52-week high of the company’s shares is Rs 2790.
Revenue of the company increased by 22% to Rs 8730 crore
Titan Company’s revenue grew 22% to Rs 8730 crore in the July-September 2022 quarter as against Rs 7170 crore in the year-ago period. The jewellery business (excluding bullion sales) saw a 18% growth in revenue at Rs 7203 crore as against Rs 6106 crore in the corresponding period of the previous financial year.
Watches & Wearables business revenue up 21%
The revenue of the watches and wearables business grew 21% to Rs 829 crore in the September 2022 quarter, from Rs 687 crore in the year-ago period. The eye care business has seen a growth of 4% and its revenue has been Rs 167 crore. Titan has added 105 stores till 30 September 2022. The company’s retail chains, including Caratlane, had 2408 stores in 382 towns as of September 2022.
