On the backdrop of spiraling gold prices, continuing global downturn and signs of slow but steady recovery of Indian economy, Titan Industries registered an income of Rs.1156.41 crore during the second quarter of 2009 as compared to Rs.1104.85 crore during the corresponding period last year.
The company’s watch sales showed a marginal decline during second quarter with its income at Rs.295.52 crore compared to Rs.303.45 crore during the same period last year. Jewellery income grew by 9.4 per cent to Rs.822.62 crore during the current year from Rs.752.18 crore during the second quarter of last year.
Net profit for the first half of the current year has grown to Rs.161.09 crore from Rs.158.59 crore last year. Watch sales grew by six per cent to Rs.504.09 crore from Rs.475.34 crore and jewellery sales have grown by 6.6 per cent from Rs.1367.90 crore last year to Rs 1448.17 crore this year. Total sales are up by 6.3 per cent from Rs.1923.91 crore during last year to Rs.2045.01 crore this year.