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Titan Industries income grows by 23%
Titan Industries Income from operations went up to Rs. 819.06 crore during the first quarter of the current year from Rs. 666.59 crore during the corresponding period last year and the company's profit before taxes increased to Rs. 43.95 crore compared to Rs. 25.36 crore last year.
Income from operations went up to Rs. 819.06 crore during the first quarter of the current year from Rs. 666.59 crore during the corresponding period last year and the company's profit before taxes increased to Rs. 43.95 crore compared to Rs. 25.36 crore last year. Profit after taxes went up from Rs. 17.99 crore last year to Rs. 32.22 crore during the same period in the current year.
Despite high inflation, spiraling oil prices and high volatility in gold prices all the divisions of the company have performed well.
Watch segment sales income increase from Rs. 168.83 crore during the first quarter of last year to Rs. 171.89 crore during the corresponding period this year. The jewellery segment sales income grew from Rs. 466.41 crore during the first quarter of last year to Rs. 615.72 crore during this year. The Company's other products segment that include Eyewear, Precision Engineering, Machine Building and Clocks grew from Rs. 22.65 crore during the first quarter of last year to Rs.23.50 crore this year.
During the quarter the Company opened 29 New World of Titans, Tanishq, Eye+ and Gold Plus stores. Titan watches were launched in Pakistan and Tanishq opened its first exclusive boutique in the USA at Chicago.
