Titan Q2 Results: Profit jumps 54% YoY to Rs 1,722 crore; total income up 25%

Tata Group-owned Titan Company on Thursday reported a 54% rise in consolidated net profit to Rs 1,722 crore for the September quarter, driven by strong demand for jewellery, premium watches and eyewear, even as the festive season shifted largely to the December quarter. The company had reported a net profit of Rs 1,120 crore in the corresponding quarter last year.

Consolidated total income, excluding bullion and digital gold sales and a non-operating accounting gain, increased 25% to Rs 20,533 crore from Rs 16,407 crore a year earlier.

Jewellery business

Titan’s jewellery business, which accounts for the bulk of its revenue, recorded 24% growth to Rs 17,495 crore, excluding bullion and digital gold sales. The growth was supported by strong demand for studded jewellery, which increased in the early thirties in percentage terms, helped by the company’s Festival of Diamonds campaign and promotional offers across brands.

Titan said consumers continued to spend on jewellery despite the shift in the festive calendar to the third quarter.

The India jewellery business reported 21% revenue growth to Rs 16,343 crore. Within this, the combined revenue of Tanishq, Mia and Zaya increased 20% to Rs 14,935 crore. CaratLane continued its strong growth momentum, with revenue rising 31% to Rs 1,408 crore.

The jewellery business reported earnings before interest and tax (EBIT) of Rs 2,300 crore, translating into a margin of 13.1%. The domestic jewellery business recorded an EBIT of Rs 2,281 crore at a margin of 14%. After adjusting for customs duty gains, EBIT stood at Rs 1,745 crore, with a margin of 10.7%.

Titan’s international jewellery business more than doubled its revenue to Rs 1,152 crore, supported by the inclusion of Damas and growth across its existing brands. The combined international business of Tanishq, Mia and CaratLane grew 41% to Rs 788 crore. Damas contributed Rs 364 crore in revenue but recorded an operating loss of Rs 24 crore.Also read: Bharti Airtel Q2 profit advances 31% YoY to Rs 8,887 crore; ARPU rises to Rs 271

The company said its international operations continued to face challenges from geopolitical disruptions in the Gulf region, although Tanishq recorded healthy demand in North America. During the quarter, Titan added 42 jewellery stores on a net basis in India, including seven Tanishq stores, 18 Mia stores and 13 CaratLane outlets. It also opened a new Tanishq store in Los Angeles.

Watches and eyewear

Titan’s watches business recorded one of its strongest quarterly performances, with revenue increasing 27% to Rs 1,881 crore. The growth was led by demand for premium analogue watches, which grew in the early thirties, while smartwatch sales returned to growth with a high single-digit increase.

The watches division reported an EBIT of Rs 412 crore at a margin of 21.9%. Titan added 34 watch stores during the quarter across Titan World, Fastrack, Helios, Helios Luxe and Nebula.

The eyewear business also maintained its growth momentum, with revenue increasing 28% to Rs 281 crore. Titan said demand benefited from premiumisation, an upgraded retail network and a broader product portfolio. The division reported an EBIT of Rs 23 crore at a margin of 8.2%.

The company’s emerging businesses, including SKINN fragrances, IRTH women’s bags and Taneira ethnic wear, reported 21% revenue growth to Rs 171 crore. However, the segment posted an operating loss of Rs 6 crore. Titan Engineering and Automation Limited reported 53% revenue growth to Rs 636 crore, supported by its automation and manufacturing services businesses.

Commenting on the performance, Titan MD Ajoy Chawla said consumer demand remained resilient despite a strong base quarter and the change in the festive calendar. “Q2FY27 was a quarter of healthy, broad-based growth for Titan, with our businesses registering c.25% consolidated operating growth YoY,” Chawla said.

He added that design-led jewellery collections and consumer offers had supported demand, while premiumisation continued to drive watch sales.

Separately, Titan announced that Noel Tata will retire as vice-chairman and non-executive director with effect from November 12, 2026, in accordance with Tata Group governance guidelines. Tata has been associated with Titan since August 2003. The company’s board acknowledged his contribution to its growth and strategic direction over the past 23 years.

For the first half of FY27, Titan’s consolidated net profit, excluding the non-operating accounting gain, rose 58% to Rs 3,499 crore, while comparable total income increased 32% to Rs 41,286 crore.

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