Another Quarter of Growth at Titan

(IDEX Online) - India's Titan Company enjoyed another quarter of growth in jewelry sales, according to its latest update.

Titan, part of Tata Group, the country's largest conglomerate, reported an 18 per cent year-on-year increase in sales for Q4, down on 23 per cent for Q3.

The company provides percentage increases but does not disclose actual revenues.

"Jewellery domestic operations grew c.19% YoY led by both buyers and same store sales clocking healthy double digit growths," the company said in an update

"Growth was similar across gold (plain) and studded segments."

Earnings from CaratLane, the e-tailer in which Titan bought almost all remaining shares last August, saw a 30 per cent increase in its year-on-year business.

Titan opened 29 new jewelry stores during the quarter, bringing the total to 665.

Its Watches and Wearables division, saw slower growth than jewelry, of 6 per cent. It opened 44 new stores and now has 1,120.