Indian jeweler Titan Company reported strong growth in the second fiscal quarter as both sales and profit rose amid increased consumer demand for jewelry.
Consolidated sales at the country’s largest jewelry retailer – including at subsidiaries – climbed 14% year on year to INR 214.3 billion ($2.28 billion) for the three months that ended September 30, the company reported last week. Net profit jumped 114% to INR 23.93 billion ($254.62 million).
The company’s revenue for the jewelry segment, which includes Tanishq, Mia and CaratLane, was up 7% to INR 177.21 billion ($1.89 billion). However, pure jewelry sales, excluding bullion and digital-gold sales, climbed 24% to INR 174.95 billion ($1.9 billion) largely thanks to Tanishq’s Festival of Diamonds collection. Additionally, sales of studded jewelry grew more than 30%, with a boost from brand-specific promotions. This reflected steady consumer demand despite the shift in the festive calendar to the third quarter of fiscal 2027.
“The second quarter of fiscal 2027 was a quarter of healthy, broad-based growth for Titan,” said Titan managing director Ajoy Chawla. “Our jewelry business grew well, with design-led collections and attractive consumer offers resonating across markets and age groups…. Across the portfolio, we keep innovating and investing for growth – strengthening brand equity, deepening customer engagement and creating enduring value for all our stakeholders.”
Titan also derives revenue from eyewear and other segments, including fragrances and fashion accessories.
Image: A Titan-owned Tanishq store in Seattle, Washington. (Titan Company)
