Titan Company reported a 63% year-on-year increase in consolidated net profit for the first quarter of the financial year, supported by strong Akshaya Tritiya-led demand for jewellery, premiumisation across categories, and growth in its consumer businesses.

Consolidated total income for the April-June quarter rose 40% year-on-year to about `20,753 crore. Profit before tax (PBT) surged 64% to `2,429 crore, translating into an 11.7% margin. Adjusting for the impact of increased customs duty on gold, PBT growth stood at 37% over the year-ago period.

Segment Performance Highlights:

• Jewellery: Total sales (excluding bullion and digital gold) expanded 43% to `18,253 crore. Indian jewellery revenue grew 38% to `16,943 crore, with Tanishq, Mia, and Zoya rising 38% to `15,502 crore. CaratLane grew 40% to `1,441 crore, while the international jewellery business surged 136% to Rs 1,309 crore. Total jewellery EBIT reached `2,360 crore at a 12.9% margin.
• Watches: Income increased 21% to `1,543 crore. Mid-twenties growth in analogue watches offset a single-digit decline in smartwatches. Segment EBIT was `295 crore with a 19.1% margin.
• EyeCare: Revenue grew 21% to `289 crore, while EBIT reached `24 crore.
• Emerging Businesses & Automation: SKINN, IRTH, and Taneira collectively grew 18% to Rs 128 crore with a loss of `39 crore. Titan Engineering & Automation recorded 43% growth to `438 crore with an EBIT of `143 crore.

"The broad-based performance notwithstanding, the quarter demanded significant agility on multiple fronts from navigating gold prices to the sharp changes in the duty structure and to managing geopolitical headwinds across our international operations," said Ajoy Chawla, managing director of Titan Company.

During the quarter, Titan continued its retail expansion by adding 33 net jewellery stores in India—including four Tanishq, 17 Mia, one beYon, and 11 CaratLane stores—alongside six Titan Eye Plus and one Runway store.