Titan net profit up by 56 pc in Q2

Bangalore, Oct 18 (UNI) Recording a robust growth, Titan Industries saw its net profit ticking fast at 56 per cent to touch Rs 32.18 crore on a year-on-year basis during the second quarter of the current fiscal.

The net profit was eight times higher than the figure earned during the first quarter. During the same quarter last year, the net profit earned was Rs 20.60 crore, the company said in a release here.

The company reported a total income of Rs 539.04 crore, up by 47 per cent from Rs 366.06 crore recorded during the same period last year, the release said.

The net profit for the first half of the current fiscal rose by 41 per cent from Rs 25.63 crore to Rs 36.27 crore. The core business of watches and jewellery grew significantly with a spurt in jewellery sales witnessed due to reduction in gold prices.

The first six months saw the total sales up by 48 per cent at Rs 988.43 crore, compared to Rs 665.63 crore earned during the same period last fiscal, the release said.

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