Titan's jewellery, watches, Eyecare businesses post strong Q2 growth; net profit more than doubles

Titan Company reported strong growth across its businesses in the September quarter, with its jewellery division registering a 24% rise in revenue, driven by demand for studded jewellery and higher average ticket sizes.

The jewellery business recorded income of Rs 17,495 crore during the quarter, excluding bullion and digital gold sales. Its India business grew 21% to Rs 16,343 crore, while international jewellery revenue more than doubled, rising 105% to Rs 1,152 crore. CaratLane reported 31% growth, while the combined Tanishq, Mia and Zaya business grew 20%.

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The company said its studded jewellery category recorded growth in the early thirties, supported by its 'Festival of Diamonds' campaign and brand-level promotions. The division added 42 net stores in India during the quarter.

Titan's watches business also delivered a strong performance, with revenue rising 27% year-on-year to Rs 1,881 crore. Growth was led by analogue watches, which recorded growth in the early thirties. Its smartwatch business also returned to growth, posting a high single-digit increase.

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The EyeCare business reported 28% growth in revenue to Rs 281 crore, supported by a multi-brand strategy, an upgraded store network and a sharper product portfolio. Titan Engineering and Automation Ltd (TEAL) recorded a 53% increase in revenue to Rs 36 crore.

Titan share prices closed at Rs 4,834.60 on Thursday, up Rs 80.20 (1.69%).

Titan's consolidated profit after tax rose 54% year-on-year to Rs 1,722 crore in the second quarter. Profit before tax increased 53% to Rs 2,329 crore. After adjusting for customs duty gains of Rs 536 crore during the quarter, profit before tax stood at Rs 1,793 crore, up 18% year-on-year.

The company's total income, excluding bullion and digital gold sales, rose 25% to Rs 20,533 crore during the quarter, compared with Rs 16,407 crore in the year-ago period.

For the first half of FY27, Titan reported a 32% increase in total income to Rs 41,286 crore. Profit after tax grew 58% to Rs 3,499 crore.

Separately, the company's board approved raising up to Rs 2,500 crore through the issuance of rated, listed, redeemable unsecured non-convertible debentures on a private placement basis.

The board also said Noel N. Tata will retire as vice-chairman and director of the company with effect from November 12, 2026, in accordance with Tata Group governance guidelines.