Titan Q3 profit up 61 pc to Rs 1,684 cr

New Delhi, Feb 10 (PTI) Leading jewellery and watchmaker Titan on Tuesday reported 60.84 per cent increase in consolidated net profit at Rs 1,684 crore for December quarter FY26, led by the domestic jewellery business.

The company posted a net profit of Rs 1,047 crore for the October-December period a year ago, according to a regulatory filing from Titan.

Sales were up 42 per cent to Rs 24,915 crore in December quarter FY26.

Profit before Tax (before exceptional items) was Rs 2,375 crore at 9.7 per cent margin, an increase of 70 per cent.

“Normalising for the impact of customs duty reduction in gold in Q3FY25, the profit before tax grew 44 per cent compared to the same period last year,” an earnings statement said.

Total expenses increased 40.8 per

cent to Rs 23,192 crore in the December quarter. Total income, which includes other income, was at Rs 25,567 crore, up 43 per cent year-on-year.

During the quarter, Titan’s jewellery business increased 45.6 per cent to Rs 23,492 crore driven by festive collections, impactful brand campaigns and powerful exchange initiatives, underscoring strong festive demand amid high gold prices.

“The business achieved an EBIT of Rs 2,475 crore at a margin of 11 per cent,” it said.

The Indian business of the jewellery section rose 41 per cent to Rs 21,458 crore. The combined business of its brands Tanishq, Mia and Zoya was up 40 per cent to Rs 19,921 crore in December quarter FY26.

Caratlane recorded 42 per cent growth, touching a revenue of Rs 1,537 crore. Revenue from Titan’s international jewellery business, on a small scale, also grew 83 per cent to Rs 1,058 crore.

During the quarter, its jewellery business added 49 new stores. This includes 24 in Caratlane, 11 in Mia, 10 in Tanishq, 1 in Zoya and 1 in beYon, in India market. Besides, Tanishq added two new stores in the US in Boston and Orlando during the quarter.

Similarly, revenue from Watches & Wearables was up 13.9 per cent to Rs 1,295 crore. This was helped by a strong traction in the festive season, driven by gifting occasions.

“Analog segment continued to be the mainstay, clocking 20 per cent growth in consumer sales accompanied by healthy same-store sales growth across key retail formats,” it said.

Premiumisation journey saw steady progress across Titan, Fastrack and Sonata brands, all growing in healthy double digits compared to Q3FY25.

“Smart watches saw demand moderation in volumes declining year-on-year by 27 per cent amid stable pricing in the sub-segment,” it said.

Watch division added 22 new stores in Q3/FY26, consisting of 9 in Titan World, 9 stores in Fastrack, 3 in Helios and 1 in Helios Luxe.

Its Eyecare segment revenue was up 17.85 per cent at Rs 231 crore.

“Business (domestic) saw healthy demand in core categories supported by high single-digit volume growth and mid-single digit growth in average selling prices (ASP). Growth was led by lenses and sunglasses, both achieving double-digit growth for the quarter,” said Titan.

Revenue from other segments, which includes its emerging business as fragrance, wallets, Indian dress wear (Taneira) etc was at Rs 457 crore, up 46.5 per cent in the December quarter.

In the segment, women’s bags experienced strong double-digit growth in volumes, while the fragrances business grew 24 per cent, driven by strong volume growth in Skinn and Fastrack perfumes.

Taneira’s consumer business grew 7 per cent, led by increase in ASP and same-store-sales growth.

Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO).

Shares of the company on Tuesday settled at Rs 4267.05 a scrip on BSE, up 0.24 per cent from the previous close. PTI KRH KRH ANU ANU