Titan Revenue and Profit Surge as Gold Prices Rise
August 10, 25
(IDEX Online) - Titan reported a 21 per cent increase in quarterly revenue - up to INR 148.14bn (USD 1.69bn) on the back of rising gold prices.
Profits after tax surged 52.5 per cent to INR 10.91bn (USD 125m), according to the financial results for Q1 2026 published last Thursday (7 August).
Total income for its jewelry sector - including the Tanishq, Rivaah, Mia, Zoya, Aveer and CaratLane brands - increased 19 per cent to INR 127.97bn (USD 146m).
Watch sales enjoyed an "exceptional" quarter, the company said, one of the best ever, with sales up 24 per cent to RUP 12.73bn (USD 153m), driven by a 28 per cent growth in analog watches.
Titan, part of Tata Group, the country's largest conglomerate, has almost 3,000 stores across India and said last month said that it was buying a two-thirds stake in Dubai-based luxury jeweler Damas.
The overall number of customers remained constant, but growth in like-for-like domestic sales was in double digits.
CK Venkataraman, Titan managing director, said: "Our jewellery business continues to show remarkable resilience despite headwinds from elevated gold prices. Consumer confidence in gold as both adornment and store of value remains intact, supporting our market leadership position.
"Watches delivered one of its best-ever quarters, achieving exceptional performance in both revenue growth and margins."
Pic courtesy Tanishq, a Titan company.