New Delhi, February 10 Leading jewellery and watchmaker Titan on Tuesday reported a 60.84 per cent increase in consolidated net profit at ₹1,684 crore for the December quarter of FY26, driven by the domestic jewellery business.
The company posted a net profit of ₹1,047 crore for the October-December period a year ago, according to a regulatory filing from Titan.
Sales were up 42 per cent to ₹24,915 crore in the December quarter of FY26.
Profit before Tax (before exceptional items) was ₹2,375 crore at a 9.7 per cent margin, an increase of 70 per cent.
"Adjusting for the impact of the reduction in customs duty on gold in Q3FY25, the profit before tax grew by 44 per cent compared to the same period last year," an earnings statement said.
Total expenses increased by 40.8 per cent to ₹23,192 crore in the December quarter. Total income, which includes other income, was at ₹25,567 crore, up 43 per cent year-on-year.
During the quarter, Titan's jewellery business increased by 45.6 per cent to ₹23,492 crore, driven by festive collections, impactful brand campaigns, and strong exchange initiatives, highlighting strong festive demand amid high gold prices.
"The business achieved an EBIT of ₹2,475 crore at a margin of 11 per cent," it said.
The Indian business of the jewellery segment rose by 41 per cent to ₹21,458 crore. The combined business of its brands Tanishq, Mia, and Zoya was up by 40 per cent to ₹19,921 crore in the December quarter of FY26.
Caratlane recorded 42 per cent growth, reaching a revenue of ₹1,537 crore. Revenue from Titan's international jewellery business, on a small scale, also grew by 83 per cent to ₹1,058 crore.
During the quarter, its jewellery business added 49 new stores. This includes 24 in Caratlane, 11 in Mia, 10 in Tanishq, 1 in Zoya, and 1 in beYon, in the Indian market. Besides, Tanishq added two new stores in the US in Boston and Orlando during the quarter.
Similarly, revenue from Watches & Wearables was up by 13.9 per cent to ₹1,295 crore. This was driven by strong demand during the festive season, driven by gifting occasions.
"The analog segment continued to be the mainstay, clocking 20 per cent growth in consumer sales accompanied by healthy same-store sales growth across key retail formats," it said.
The premiumisation journey saw steady progress across Titan, Fastrack, and Sonata brands, all growing in healthy double digits compared to Q3FY25.
"Smart watches saw demand moderation in volumes declining year-on-year by 27 per cent amid stable pricing in the sub-segment," it said.
The watch division added 22 new stores in Q3/FY26, consisting of 9 in Titan World, 9 stores in Fastrack, 3 in Helios, and 1 in Helios Luxe.
Its Eyecare segment revenue was up by 17.85 per cent at ₹231 crore.
"The business (domestic) saw healthy demand in core categories supported by high single-digit volume growth and mid-single digit growth in average selling prices (ASP). Growth was led by lenses and sunglasses, both achieving double-digit growth for the quarter," said Titan.
Revenue from other segments, which includes its emerging business as fragrance, wallets, Indian dress wear (Taneira) etc, was at ₹457 crore, up 46.5 per cent in the December quarter.
In the segment, women's bags experienced strong double-digit growth in volumes, while the fragrances business grew by 24 per cent, driven by strong volume growth in Skinn and Fastrack perfumes.
Taneira's consumer business grew by 7 per cent, led by increase in ASP and same-store-sales growth.
Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO).
Shares of the company on Tuesday closed at ₹4267.05 per share on the BSE, up 0.24 per cent from the previous close.
