Titan Estimates 24% Q3 Revenue Surge Amid Jewellery Boom

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Titan Company, India's leading jeweller and watchmaker, reported a 24% rise in Q3 revenue, driven by festive jewellery demand.

Festive Boost

The festive season brought strong buyer traction, with jewellery sales growing in high single digits. Titan derives 87% of its revenue from this segment

Comparing Last Year

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Titan recorded a 22% revenue rise in Q3 last year, showcasing consistent growth in its jewellery business

Gold Demand Surge

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Gold demand surged, fueled by India’s wedding season and festivals like Diwali and Dussehra

Key Stats

– Jewellery revenue grew 26% YoY. – Plain gold sales increased by 24%. – Gold coin sales soared by 48%

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Market Impact

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Titan's Q3 performance lifted its shares by 1.8% in early trading.

Watch & Wearables

Titan's watches and wearables segment, including brands like Fastrack, saw a 15% revenue growth.

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Challenges

Despite strong growth, Titan faced a Rs 275-280 crore hit due to customs duty cuts and pre-acquired inventory costs.

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Conclusion

Titan's impressive Q3 performance highlights the strength of its jewellery business and the growing demand for gold in India.

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