Jewellery Sales Account For 82% Of $535M Titan Q4 Revenue

Titan Co. Ltd., which owns the Tanishq jewellery brand, the Titan watch brand and holds a majority stake in online jewellery retailer Carat Lane, has posted revenues of ₹3,429.7 crore ($534.88 million) for the final quarter of fiscal year ended March 31, 2017. Year on year, the results are 43.4 percent higher than the performance in the same quarter the previous year.

Profit after tax did not go up in sync with the increase in revenue, but was up 7.4 percent year-on-year to ₹200.7 crore ($31.3 million).

Revenue from the group’s jewellery segment increased a robust 55 percent year-on-year and accounted for 82 percent of its total revenue. Volume, or “grammage” growth was 37 percent.

An increase in the share of wedding jewellery and network expansion are expected to boost the jewellery segment further. The watch segment, which generated 14 percent of the total revenue during the quarter, can be expected to benefit from new product launches.

Emkay Global Financial Services Ltd expects a revenue compounded annual growth rate (CAGR) of 16.5 percent through to the end of fiscal 2019 for the whole Titan group, driven by a 17 percent CAGR in jewellery revenue.

https://www.gemkonnect.com/news/jewellery-sales-account-82-535m-titan-q4-revenue