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Titan Industries net profit dips 12 percent
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SME Times News Bureau | 24 Oct, 2009
Watch and jewellery manufacturer Titan Industries reported a 11.63 percent dip in net profit at Rs.77.6 crore for quarter ended Sep 30, and attributed it to a decline in watch sales and other businesses.
Sales fell 2.6 percent to Rs.295.25 crore, while income from other businesses declined by 3.1 percent to Rs.34.13 crore.
The company, however, saw income from its jewellery business -- Tanishq -- grow 9.4 percent to Rs.822.62 crore during the period under review.
The total income of the company during the period grew 4.7 percent to Rs.1,156.41 crore compared to Rs.1,104.85 crore in the corresponding quarter last year.
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