Festive cheer drives Titan’s Q2 revenue up 22% to ₹16,649 crore, profit jumps 59%

Titan said on Monday that its second-quarter revenue rose by 22% to 16,649 crore, and its consolidated net profit jumped 59% to ₹1,120 crore amid robust demand for its jewellery products and watches in the festive season.

In the domestic jewellery business, the total income for the quarter rose 21% from the year-ago period to ₹14,092 crore (excluding Bullion and Digi-Gold sales). The domestic business—Tanishq, Mia and Zoya combined—grew 18% to ₹12,460 crore, and CaratLane (domestic) posted an impressive 32% growth reaching ₹1,072 crore, over the second quarter of the previous fiscal year, respectively.

The international jewellery business nearly doubled to ₹561 crore in the quarter, demonstrating strong growth momentum in the UAE and North America. The domestic portfolio (Tanishq, Mia and Zoya combined) recorded an Ebit of ₹1,381 crore for the quarter at a margin of 11.1%. CaratLane (domestic) recorded an Ebit of ₹109 crore for the second quarter at a margin of 10.1%. International jewellery recorded an Ebit of ₹16 crore, with a 2.8% margin, in the same period.

According to Titan, the domestic jewellery business saw a strong pick-up in consumer demand during Navratri. Tanishq’s attractive gold exchange offer supported sales despite high gold prices. The overall growth was led by improvements in ticket size, with buyers witnessing a marginal decline compared to the year-ago period.

CaratLane’s targeted coins promotion offer drove traffic and conversions, helping deliver a strong growth for the quarter. Tanishq added a new store in Virginia, U.S., during the quarter. Of the 34 new store additions (net) in India in the Jewellery business, six stores were in Tanishq, 18 in Mia and 10 stores in CaratLane, respectively.

The watches business recorded 13% growth over the second quarter of the previous fiscal, achieving total income of ₹1,477 crore. The Ebit came in at ₹238 crore, clocking a 16.1% margin for the quarter under review. The analogue segment expanded 17%, driven by double-digit volume increases and higher average prices. The Division added 15 new stores (net), comprising five in Titan World, 6 in Helios, one in Helios Luxe, and three in Fastrack.

“The premiumisation journey is steadily progressing across Titan, Fastrack and Sonata brands. Retail formats saw consistent double-digit same-store sales growth. The healthy Revenue trajectory delivered operating leverage gains for the business,” it added.

The EyeCare business’s total income in the current quarter grew 9% year over year. Business recorded an Ebit of ₹12 crore, clocking a margin of 5.3% for the quarter. Growth was led by sunglasses, which outperformed other eyewear categories across both house and international brands. Division added five ‘Runway’ stores during the quarter.

In the emerging businesses division, the total income (Taneira, Fragrances, Women’s Bags) grew 34% to ₹142 crore compared to the year-ago period. The combined losses reduced to ₹24 crores (from ₹29 crore in the same period last year). Women’s Bags experienced strong momentum, with 90% growth led by e-commerce. Fragrances grew 47%, driven by volume expansion across Skinn and Fastrack perfumes. Taneira delivered double-digit secondary growth from increased volume and higher same-store sales.