Titan Industries wins its race with time
January 27, 2007

Titan surpasses 12 months turnover of 2005-06 during first 9 months of 2006-07.

Titan Industries ended the third quarter October-December 2006 with a sales turnover of Rs. 542.21 crore, registering a significant growth of 42 per cent over the third quarter of last year. Profit after taxes during this period rose by 157 per cent to Rs 27.72 crore.

The first nine months of the financial year have witnessed substantial growth in sales turnover of the company by 46 per cent, which increased from Rs 1047.22 crore last year to Rs 1530.63 crore this year and this was higher than the annual turnover of the company last year of Rs 1481 crore. For the nine months period, profit after taxes was Rs 63.81 crore as against Rs 36.41 crore during the same period last year.

Both the watch division and the jewellery division grew their businesses. The watch division clocked a sales growth of 16 per cent as it grew from Rs 459.58 crore last year to Rs 535.98 crore this year. Jewellery grew substantially by over 69 per cent by achieving Rs 951.65 crore as compared to Rs 562.82 crore during the corresponding period last year. As this note goes to the Press, Tanishq jewellery sales for the current year have crossed the landmark figure of Rs 1000 crore. The company's international business also grew by 34 per cent during this period.

All this has helped the company to maintain its clear leadership in the several segments and markets it operates in, and this augurs well for its confidence as it gears up to expand its operations and is on the threshold of launching into the prescription eyewear business.