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Titan Company Ltd. noticed its shares rise over 2% in morning commerce, making it the highest gainer on the Nifty 50 index
Titan Share Price Today
Titan Company Ltd. noticed its shares rise over 2% in morning commerce, making it the highest gainer on the Nifty 50 index, following the announcement of a 24% year-on-year progress for the quarter ended December.
In its submitting with the inventory exchanges, Titan revealed that its mixed retail community, together with CaratLane and worldwide shops, expanded by 69 new shops in the course of the quarter, bringing the entire to three,240 areas.
The firm delivered strong outcomes for Q3 FY25, pushed by a 25% year-on-year progress in its Jewellery section, fueled by sturdy festive demand, increased gold costs, and purchases in the course of the marriage ceremony season.
Gold coin gross sales surged 48%, whereas studded jewelry noticed a 21% enhance in comparison with the earlier 12 months. The Jewellery section additionally added 24 web shops in India and expanded internationally with new areas in Seattle and Dubai.
In the Watches & Wearables class, Titan reported a 13% YoY progress, with analog watches rising by 19%, pushed by premiumization and festive demand. However, wearables noticed a 20% decline as a result of market pressures. Titan EyeCare posted a 17% YoY progress, regardless of the closure of three shops in the course of the quarter.
“Consumer preferences leaned strongly in the direction of high-end timepieces, significantly evident within the progress of Titan, Edge, Xylys, and worldwide manufacturers by way of the Helios channel,” the corporate acknowledged.
CaratLane, Titan’s jewelry retail arm, reported a 25% YoY progress, with 19 new home shops and its first worldwide outlet in New Jersey. The Emerging Businesses section had blended outcomes, with Fragrances rising by 27% and Fashion Accessories seeing a 20% decline.
Titan EyeCare additionally delivered sturdy gross sales progress of 17%, pushed by efficiency throughout each retail and e-commerce channels. The Titan Eye+ chain expanded its footprint with three new shops in India in the course of the quarter.
In the rising enterprise section, Titan’s Fragrances division noticed a big 27% progress, whereas Fashion Accessories skilled a 20% decline. Taneria’s gross sales remained flat in comparison with final 12 months, though it opened a brand new retailer in Salem, India.
