Robust growth in watch and jewellery business has boosted Titan Industries’ profits 28 per cent to Rs 184.97 crore for the fourth quarter of 2012-13.
The company’s income from operations has also gone up 14.54 per cent to Rs 2,613.24 crore in Q4. EPS (basic) stood at Rs 2.08 in Q4 fiscal 2012-13 compared with Rs 1.63 for the last fiscal.
Bhaskar Bhat, Managing Director, said: “it has been a fruitful year for Titan Industries with healthy growth and the fourth quarter in particular, was encouraging with 28 per cent growth in profit.”
“Given the high expectations of all our stakeholders and aspirations of our employees, we move confidently into the new financial year with aggressive plans,” he added.
The watch business recorded an increase of Rs 1675.87 crore, a growth of 9.6 per cent. This was achieved through planning and execution of key initiatives, the statement from the company said.
The income from jewellery segment grew by 14.8 per cent, crossing the Rs 8,000-crore mark to Rs 8,107.99 crore. The income from other segment comprising precision engineering, a B2B business, the eyewear business and accessories grew by 25.9 per cent to Rs 414.03 crore.