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Titan Ltd Q3 net profit dips marginally to Rs 1,047 crore

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February 4, 2025

Titan Ltd reported a marginal decline in net profit to Rs 1,047 crore ($120.3 million) for the quarter ended December 2024, as against Rs 1,053 crore in the year ago quarter.

Titan Ltd Q3 net profit dips marginally to Rs 1,047 crore – Tanishq- Facebook

The company’s total income for the quarter rose by 26 percent to Rs 17,723 crore, as against Rs 14,122 crore in the corresponding quarter of the previous fiscal year.

The revenue from the jewellery business was at Rs 14,697 crore while the watches & wearables segment contributed Rs 1,128 crore to the total income.

Titan’s emerging businesses, which include fashion brand Taneira posted a 5 percent year-on-year growth with income of Rs 118 crore.

Commenting on the results, CK Venkataraman, managing director of Titan Ltd in a statement said, “The festive quarter gone by firmly established the FY25 growth trajectory after a muted Q1 and healthy Q2. Jewellery saw its strongest quarter (yet) for the fiscal year, growing well in excess of 25% at a retail level. Consumer preference for gold, both as adornment jewellery and as a store of value continued to remain fairly strong.”

“The custom duty related losses on the inventory (held at the time of the duty change) have been fully realised in this quarter and hence the profitability is lower to that extent. We are committed to investing in the growths of all our businesses and specifically the emerging ones to help them scale faster,” he added.

During the quarter, Titan Ltd expanded the retail presence of its jewellery division by opening 11 Tanishq stores and 13 Mia stores in India.

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