Titan Company, the Indian jeweller and watchmaker, announced on Monday that it expects a 24% increase in third-quarter revenue, driven by strong domestic festive demand for jewellery. The company highlighted that the festive season led to a significant rise in buyer growth in the jewellery segment, which accounts for approximately 87% of its total revenue.
On January 06, 2025, the company released its quarterly update for Q3 FY 2024-25 on the stock exchanges, reporting a 24% year-on-year growth.
Titan expanded its retail network by adding 69 new stores, bringing the total to 3,240 stores across various segments, including Jewelry, Watches and Wearables, EyeCare, and Emerging Businesses.
The Jewellery division saw a 25% growth driven by festive demand, with gold coin sales rising 48% due to consumers’ increasing interest in gold as an investment. Watches & Wearables grew 13%, with a strong performance in analogue watches despite a decline in the wearables segment.
The company also saw healthy growth in its studded jewellery portfolio and a significant increase in buyer activity across several business units. The update remains provisional, subject to a limited review by statutory auditors.
Titan Company Limited, established in 1984, is a leading Indian lifestyle brand with a diverse portfolio spanning jewellery, watches, eyewear, and wearables. With over 38,000 employees and 16 brands, Titan operates more than 2,000 retail stores worldwide. Titan continues to expand into emerging categories like fragrances and fashion accessories. It is committed to sustainable growth and is recognised for its excellence in business and customer service. Titan is part of the Tata Group.
Titan Company Ltd’s share price traded 2.19% higher at ₹3,545.80 at 11:30 AM on the NSE. The stock opened at ₹3490 higher than ₹3,470 at the previous close. The stock has gained 9.27% since the start of January 2025.
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Published on: Jan 7, 2025, 11:39 AM IST
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