Titan Company Ltd recorded a revenue year-on-year (YoY)growth of 20 percent for the first quarter of the current financial year with all key consumer businesses exhibiting double digit growth, the company said in its pre quarterly update.
The company’s jewellery division witnessed a growth of 21 percent YoY in the Aprill-June quarter while the watches & wearable division witnessed a 13 percent growth.
The eyecare division saw sales growth of 10 percent while its emerging businesses that includes fragrances & fashion accessories grew 11 percent.
“Buyer growth was higher than average ticket size growth for this period. Despite significant volatility in gold prices throughout the quarter, Akshaya Tritiya sales in April and wedding purchases in June were robust,” the company said in its update statement.
Caratlane grew 32 per cent YoY driven with healthy contributions from multiple avenues that included sales during Akshaya Tritiya,” it added.
Titan Ltd added a total of 68 stores (including CaratLane) during the quarter taking Titan’s retail presence to 2,778 stores.
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