Titan Industries has reported a net profit of Rs 7 crore for the third quarter ended December 01 against Rs 2.4 crore in the corresponding quarter last year, an increase of 194 per cent.

During the quarter, the company's sales turnover increased by 17 per cent to Rs 122.20 crore against Rs 104.83 crore in the corresponding quarter last fiscal.

The sales turnover of the jewellery division increased from Rs 55.43 crore in the previous year to Rs 85.24 crore, recording a growth of 54%. The company has for the first time this year crossed the cumulative sales turnover of the previous year and in the process posted a profit before tax of Rs 11 lakh for the nine months ended December 01.