Titan Q3 Profit Rises 15% to Rs 190 Crore

New Delhi: Titan Company Ltd on Tuesday reported a 15.19 per cent increase in standalone net profit at Rs 190.73 crore for the third quarter that ended on December 31, 2014.

The Tata group firm had reported a standalone net profit of Rs 165.57 crore for the corresponding quarter a year ago.

Its net sales were at Rs 2,898.28 crore during October-December quarter of 2014-15, up 9.35 per cent compared to Rs 2,650.46 crore in the year-ago period, Titan said in a filing to the BSE.

"Titan company, with a large portfolio of brands, operating in multiple industries, grew by over over 9 per cent in the third quarter. This period, which is a festive quarter, faced heightened activity from e-commerce players, participating in this gifting season," Titan Industries managing director Bhaskar Bhat said.

"The company is gearing up for the last quarter with launch of new products and advertising campaigns that are lined up, including activation by some of the brands," he said.

Revenue from jewellery business grew 11.21 per cent to Rs 2,347.39 crore during the quarter under review as against Rs 2,110.70 crore of the same period last fiscal year.

However, earnings from watch segment declined marginally to Rs 442.63 crore during the quarter as against Rs 451.29 crore last fiscal year.

Revenue from other businesses comprising eyewear, accessories and precision engineering businesses increased 14.81 per cent to Rs 133.67 crore. It was Rs 116.42 crore in the same period last fiscal year.

Shares in Titan Company, on Tuesday, ended at Rs 400.30 apiece on the BSE, up 0.48 per cent from the previous close.