Titan Industries — ticking ahead
January 24, 2005

Titan Industries Limited ended the third quarter of the current financial year with a profit after taxes of Rs 5.72 crore against Rs 2.98 crore in the same period last year, a growth of over 90 per cent. Sales turnover at Rs 305.84 crore was marginally ahead of Rs 301.74 crore last year.

The first nine months of the financial year have seen growth in the sales of the Time Products division by about 12 per cent to Rs 390.77 crore and by almost 30 per cent in jewellery sales to Rs 413.76 crore. After making necessary provisions for the European operations, profit after taxes for the company was Rs 10.27 crore as against Rs 1.69 crore last year in the same nine-month period.

The results for the period have been achieved after factoring in additional outlays on brand-building amounting to Rs 15 crore more than last year. The company continues to be the market leader in the domestic Indian market for watches with Titan and for jewellery with Tanishq.