Titan clocks 19% decline in first quarter net profit

BANGALORE: Watch and jewellery maker — Titan Industries has reported a 19% year-on-year decline in its net profit for the first quarter(Q1) ended June 30, ‘06. Net profit stood at Rs 4.09 crore in Q1 of the current fiscal against Rs 5.02 crore for the comparable period in FY'06.However the company’s topline rose year on year by a whopping 51% rise to touch Rs 442.42 crore against Rs 293.45 crore.