Home / Knowledge / News / Fashion / Marginal decline in Titan watch sales
Marginal decline in Titan watch sales
26
Oct '09
On the back drop of spiraling gold prices, continuing global down turn and signs of slow but steady recovery of Indian economy, Titan Industries registered an income of Rs.1156.41 Crore during the second quarter of 2009 as compared to Rs. 1104.85 Crore during the corresponding period last year, which was an increase of 4.7%. The Company's net profit in the second quarter stood at Rs. 77.60 Crore compared to Rs. 87.82 during the same period last year.

The Company's Watch sales showed a marginal decline during the 2nd quarter with its income at Rs. 295.52 crore compared to Rs. 303.45 crore during the same period last year. Jewellery income grew by 9.4% to Rs.822.62 Crore during the current year from Rs.752.18 Crore during the 2nd quarter of last year. The Company's other businesses declined by 9.1% from Rs.34.13Crore during the 2nd quarter of last year to Rs. 31.03 Crore during the corresponding period this year.

Net profit for the 1st half of the current year has grown to Rs.161.09 Crore from Rs.158.59 Crore last year. Watch sales grew by 6% to Rs. 504.09 Crore from Rs.475.34 Crore and Jewellery sales have grown by 6.6% from Rs. 1367.90 Crore last year to Rs.1458.17 Crore this year. Total sales are up by 6.3% from Rs.1923.91 Crore during last year to Rs.2045.01 Crore this year.

While high price of gold had an impact on customer walk-ins in our Jewellery stores, there has been a significant improvement in sales during Dussehra and Diwali.The customers seem to have accepted the present price of gold and are returning to spending on Jewellery.Cancellation and postponement of orders by International customers have resulted in decline in sales in the Precision Engineering division.

The Company has put in place several cost control measures which have helped in improving the profitability.

Titan Industries Ltd


Must ReadView All

Courtesy: ITMA 2015

Textiles | On 21st Jun 2018

Italy to host textile machinery fair ITMA in 2023

ITMA, the trendsetting textile and garment technology platform, will...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search