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Titan Industries driven by gold jewellery sales has posted 16.88 per cent higher profits at Rs 182.48 crore in the first quarter of the financial year 2013-14 compared with Rs 156.12 crore in the same period last year.
The company’s income from operations has also gone up by 40.87 per cent to Rs 3,107.67 crore (Rs 2,205.65 crore). EPS stood at Rs 2.06 compared with Rs 1.76 last year.
Jewellery income in Q1 was Rs 2,614.16 crore, a growth of 47.2 per cent over last year’s income of Rs 1,775.53 crore.
The watches business recorded an income of Rs 401.65 crore (Rs 360.69 crore), a growth of 11.4 per cent. The other businesses eyewear, precision engineering and accessories grew by 37.5 per cent to Rs 123.21 crore.
The company continues to stimulate demand for all its product categories through innovative advertising campaigns, the launch of ‘Inara’ diamond jewellery and a new brand sunglasses ‘Titan Glares’.
Retail expansion continued with a net addition of 15 stores across all its businesses in first quarter.
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