Titan Industries’ profit after taxes (PAT) went up by 79% from Rs17.99cr last year to Rs32.22cr during the same period in the current year while the profit before taxes increased to Rs43.95cr compared to Rs25.36cr in the previous year. Company’s income from its operations was up by about 23% to Rs 819.06cr during the first quarter of 2008-09 from Rs666.59cr during the corresponding period last year.
Despite high inflation, spiraling oil prices and high volatility in gold prices the company reported that it has performed well in all its divisions.
The jewellery segment sales income grew 32% from Rs466.41cr during the first quarter of last year to Rs615.72cr during this year.
Watch segment sales income increased from Rs168.83cr during the first quarter of last year to Rs171.89cr during the corresponding period this year.
The company's other products segment includes Eyewear, Precision Engineering, Machine Building and Clocks, which grew from Rs22.65cr during the first quarter of last year to Rs23.50cr this year.
During the quarter Titan watches were launched in Pakistan and Tanishq opened its first exclusive boutique in the USA at Chicago. The company also opened 29 New World of Titans, Tanishq, Eye+ and Gold Plus stores in the first quarter.