Titan Company July-September Profit Jumps 43% On Strong Jewellery Demand, Festive Boost

Titan Company Ltd. reported a 43% on-year rise in net profit to ₹1.01 billion for the September quarter, helped by higher gold prices and robust festive demand. Revenue from operations rose 25% to ₹16.53 billion from ₹13.22 billion a year ago, the company said in a release Monday.

The jewellery division remained the key growth driver, with revenue rising to ₹16.52 billion from ₹12.77 billion a year ago, supported by strong Navratri demand and improved consumer sentiment in September. Managing Director C.K. Venkataraman said the quarter saw a slow start but momentum picked up during the festive season, leading to a healthy 21% growth in jewellery sales.

Titan’s operating margin improved to 9.3% in July–September from 7.8% a year earlier, driven by higher volumes and a better product mix in the jewellery business.

During the quarter, Titan announced its plan to acquire a controlling stake in Damas Jewellery, one of the most prominent jewellery brands in the GCC region. Venkataraman said the move marks a major step toward expanding Titan’s global presence.

In leadership changes, the board approved the appointment of Ajoy Chawla as Managing Director for five years starting January 1, 2026, following Venkataraman’s planned retirement on Dec 31, 2025. Chawla, currently CEO of the jewellery segment, has been with Titan since 1991 and is credited with tripling the division’s sales and profits during his tenure.

Among other segments, the watches and wearables division posted a 13% rise in revenue to ₹1.48 billion, supported by growth in both analogue and smart watches. The eyecare segment’s revenue rose to ₹220 million from ₹202 million, helped by new store openings and festive footfall. The ‘others’ segment — which includes accessories, fragrances, Indian dress wear and automation — nearly doubled revenue to ₹557 million from ₹301 million, led by strong growth in automation and fragrance businesses.