Titan Industries Ltd’s profits moved up 24.29 per cent to Rs 203.73 crore for the third quarter (Q3) this fiscal (2012-13) on the back of better sales.
The company’s revenues were also up 23.67 per cent to Rs 3,017.80 crore compared with the same period last year. EPS stood at Rs 2.29 compared with Rs 1.85 recorded last year.
Bhaskar Bhat, Managing Director, said: “The third quarter has been a good quarter for the company and overall sales trend was encouraging. Consumer sentiment is turning positive with the stock market picking up. Retails stores are experiencing an increase in footfall and the festival season in this quarter was good one for all our brands.”
“The company is stimulating consumer demand through investments in mass communication. We hope to carry forward this momentum into the last quarter as well,” he added.
The company’s retail chain is 918 stores, as on December 31, 2012, with a retail area crossing 12 lakh square feet nationally for all the brands.
Segment-wise
The income from watches was Rs 423.53 crore in Q3 compared with Rs 383.11 crore recorded last year, growth of 10.5 per cent. Jewellery business recorded a growth of 26.7 per cent at Rs 2,515.24 crore compared with Rs 1,985.87 crore last year.
Other businesses of the company comprising precision engineering, a B2B business, eyewear business and accessories grew by 4.3 per cent in third quarter. The combined income of these businesses in the third quarter was Rs 98.26 crore compared with Rs 94.22 crore last year.