Titan Q2 Results: Profitability Under Pressure!

  • Net Profit and Income: Titan Company reported a year-on-year net profit growth of 9.7%, reaching ₹916 crore in Q2 FY24, supported by an increase in consolidated income to ₹12,653 crore, up 37.17% from the same period last year. Despite growth, profitability faced pressures due to weaker demand in the jewellery segment​.

  • Jewellery Segment Performance: The jewellery division, a key revenue driver, grew by 19% YoY to ₹8,575 crore, aided by campaigns such as "Festival of Diamonds" and the new Rivaah X Tarun Tahiliani collection. However, demand was softer than anticipated, leading to lower-than-expected gains in profit margins​.

  • Other Segments: The Watches and Wearables business saw impressive growth, crossing the ₹1,000 crore revenue mark, while the Eyewear segment grew by 13% YoY. Emerging businesses, including fragrances and fashion accessories, also showed robust growth​.

  • Future Outlook: Titan remains optimistic about Q3 due to upcoming festive demand. Store expansions and differentiated product offerings are expected to bolster growth and market share in the coming quarters

 

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