Titan Q1FY07 net profit dips 18.5%

New Delhi, July 17 (UNI) Titan Industries today posted a 18.5 per cent drop in its unaudited net profit for the first quarter ended June 30, 2006 at Rs 4.09 crore as against Rs 5.02 crore for the corresponding period last year.

The total income, however, increased by 5069 per cent from Rs 293.45 crore in Q1 FY 05-06 to Rs 442.42 crore in Q1 FY 06-07.

The company, a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO), deals in watches, clocks, accessories and jewellery, in both contemporary and traditional designs.

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