Timex Group India reports Q3 net profit of Rs 2 crore

Timex Group India Ltd (TGIL) reported a net profit of Rs 2 crore ($2,30,687) for the third quarter ended December 2024, as against net loss of Rs 1.5 crore in the year ago quarter.

The company’s sales for the quarter rose by 27 percent to Rs 120 crore, as against Rs 94 crore in the corresponding quarter of the previous year.

The quarter’s results highlighted strong performance across channels with traditional trade reporting a growth of 30 percent and e-commerce maintaining its growth momentum.

In the fashion segment, Guess recorded a 17 percent growth while Philipp Plein reported a growth of 82 percent.

Commenting on the results, Deepak Chhabra, managing director of Timex India in a statement said, “We are excited to share yet another successful quarter performance, which is a result of our continuous focus on delivering exceptional craftsmanship and tapping into emerging market opportunities in the premium segment.”

“The outstanding performances of our flagship Timex brand coupled with fashion and luxury segments, inspire us to keep innovating and expanding our reach to meet India’s growing appetite for premium timepieces,” he added.

Apart from Timex, TGIL’s portfolio includes brands like Versace, Guess, Guess Collection, Philipp Plein, Plein Sport, Ferragamo, Nautica, Ted Baker, Adidas, and UCB watches. It retails through 5 exclusive franchise stores and online marketplaces.