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Bangalore April 23 Titan Industries' net profit for the fourth quarter ended March 31, 2007 was lower by 18.5 per cent at Rs 30.32 crore against Rs 37.21 crore during the same period of the previous year.

The watch and jewellery major, however, reported an increase in its total income for the period at Rs 596.98 crore against Rs 424.03 crore.

The company declared a dividend of 50 per cent for the financial year 2007 against 30 per cent last year. According to a company release, Titan's net profit for the full year of 2006-07 was Rs 94.13 crore against Rs 73.62 crore, while its total income (net of excise) also rose to Rs 2,093.46 crore from Rs 1,442.61 crore.

Watch segment sales grew by 20 per cent to Rs 784 crore, while jewellery sales went up by 63 per cent to Rs 1,292 crore. Sales of other products, including accessories and precision engineering components, rose by 69 per cent to Rs 63 crore. During the quarter ended March 31, 2007, the watch segment sales grew by 27 per cent while jewellery segment went up 49 per cent.

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