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Jewellery and watches major Titan Company today reported 18.11 per cent increase in net profit to Rs 225.29 crore for the third quarter ended December 31, 2015. The company had posted a net profit of Rs 190.73 crore for the same period of the previous fiscal.
Net sales rose to Rs 3,398.38 crore during the third quarter compared with Rs 2,898.28 crore in the same period of previous fiscal.
“The company has clocked income growth of 17.5 per cent in the quarter over the previous year primarily on account of growth in jewellery over a low base,” Titan Managing Director Bhaskar Bhat said.
Festive season demand remained lukewarm and needed shoring with consumer schemes, he added.
“Our effort continues therefore to be one of generating demand, through new product introductions and network expansion while retaining our focus on cost control,” he said.
Shares of Titan Company Ltd ended 2.77 per cent down at Rs 339.30 on BSE.
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