INSUBCONTINENT EXCLUSIVE:
Titan Company on Tuesday reported a 12.9 per cent year-on-year (YoY) rise in standalone profit at Rs 469.95 crore for December quarter
compared with Rs 416.23 crore net in the same period last year
Analysts in an ET NOW poll had projected the profit at Rs 453 crore.
Sales for the quarter rose 8.40 per cent to Rs 6,105.96 crore from Rs
5,632.45 crore in the same quarter last year.
Managing Director, CK Venkataraman said: "The growth we saw during the festival period of
October and November was very encouraging
December witnessed a drop in footfall across all our retail formats compared with the previous two months and hence the sales were
Many new products, he said, are lined up for launch in the fourth quarter
The Jewellery business recorded a growth of 10.6 per cent
lower on account of poor sales in December
The eyewear business sales rose 2.9 per cent to Rs 133 crore and crossed the Rs 400 crores mark for nine months at Rs 436 crore.
The company
as on December 31 had 1,709 retail chains, with the retail area touching 2.22 million sq ft nationally for all its brands.
