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Watch maker Titan presents Q3 sales results

24
Jan '06
Watches and jewellery maker Titan Industries Ltd released the unaudited financial results of the company for the Third Quarter ended 31 December 2005.

It reported that both watch and jewellery sales continued to record encouraging growth over the same nine month period last year.

The cost of the Company's voluntary retirement scheme (VRS), implemented in August 2002, is being amortised over a period of sixty months.

The figures of the previous period have been regrouped/recast, where necessary.

There were no investor complaints pending at the beginning of the quarter. 22 complaints were received and 6 were disposed off during the quarter.

There were 16 complaints pertaining to non receipt of dividend warrants lying unresolved at the end of the quarter.

The Auditors have carried out a limited review of the financial results for the quarter ended 31st December 2005, as required by the Listing Agreement.
The financial results were taken on record by the Board of Directors at their meeting on 23rd January 2006.

Titan is the world's sixth largest manufacturer brand of watches and India's leading producer of watches under the Titan and Sonata brand names.

Titan Industries Ltd


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