Titan Industries is pleased to report a 20% increase in profit before taxes which rose from Rs 21.44 crores in 1999-2000 to Rs 25.57 crores. Net profit after taxes rose by 22% from Rs.19.28 crores to Rs.23.48 crores.

Income increased by 10% from Rs 643.35 crores to Rs 708.53 crores. The income of the Watch Division went up from Rs 468.22 crores to Rs 487.48 crores, an increase of 4%. The newly profitable jewellery business recorded an income growth of 32%, up from Rs 154.07 crores to Rs 203.91 crores. Exports rose from Rs 42.70 crores to Rs 45.39 crores, a growth of 6%. Other income for the year includes Rs.9.66 crores from the sale of shares (previous year Rs 10.38 crores).

The Directors once again recommended a dividend on equity shares of Rs.2.60 per equity share (26%), free of tax.