Titan Industries Ltd has posted a net profit of Rs.127.77 crore for the second quarter ended September 2010. The net profit was up 64.6 per cent from the Rs.77.6 crore reported in the corresponding quarter a year ago.
The overall income in the second quarter was Rs.1,551.22 crore, a growth of 34 per cent over the Rs.1,156.41 crore reported in the corresponding quarter last year.
Bhaskar Bhat, MD, Titan Industries Ltd, said, “The second quarter has been healthy for us, recording an income growth of 34 per cent. This performance was driven by good retail growth in all our brands and various initiatives undertaken by all businesses to introduce exciting products and enhance customer satisfaction. Our retail footprint is growing nationally; quarter on quarter, with expansion of world-class retail stores to deliver a memorable and differentiated customer experience for all our brands.”
The results for H1 of FY 2010-11 were also encouraging. The income for the April-September period stood at Rs.2,811.46 crore, registering a growth of 37.5 per cent over the corresponding period last year. The net profit for the first half of the current fiscal was Rs.209.05 crore, up 69.1 per cent over the same period a year ago.
– IndiaRetailing Bureau