Titan Industries crosses Rs 2000 crore mark

Bangalore, Apr 21 (UNI) Titan Industries saw a 44 per cent sales growth to Rs 2136 crore while profit after taxes shot up by 52 per cent to 131.65 crore during the year ended 2006-07 from the previous year.

Net profit for the year stood at Rs 94.33 crore as compared to Rs 73.62 crore in the corresponding period last year, a company's press release said here today.

Watch segment sales grew up by 20 per cent to Rs 784 crore while jewelry sales went up by 63 per cent to Rs 1292 crore. Sales of other products including accessores and precision engineering components rose by 69 per cent to Rs 63 crore.

During the quarter ended March 31, sales income grew by 40 per cent to Rs 606 crore from Rs 434 crore. While the watch segment sales rose by 27 per cent, jewelry segment sales went up by 49 per cent as compared to the previous year. The profits before taxes for the quarter was at Rs 39 crore.

UNI