Indian jewellery and watchmaker Titan Co Ltd reported a 50% jump in fourth-quarter profit on 3 May 2023, as demand for its watches and wearables rose alongside jewellery.
The Tata Group company's profit rose to $90 mn in the three months ended March 31. The sale of products jumped about 27% after jewellery brand Tanishq, which accounts for more than three-fourths of the revenue, reported an almost 33% increase. The brand saw a 15% increase in the number of new and repeat buyers. Meanwhile, growth in the wedding segment recovered, inching marginally ahead of overall retail sales growth.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
The Tata Group company's profit rose to $90 mn in the three months ended March 31. The sale of products jumped about 27% after jewellery brand Tanishq, which accounts for more than three-fourths of the revenue, reported an almost 33% increase. The brand saw a 15% increase in the number of new and repeat buyers. Meanwhile, growth in the wedding segment recovered, inching marginally ahead of overall retail sales growth.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
