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Bangalore, July 27

Titan Industries has posted a three-fold increase in first quarter net profit at Rs 12.64 crore. Income from operations went up 48 per cent to Rs 666.59 crore from Rs 449.92 crore during the corresponding period last year. The watch segment grew by 15 per cent with sales income increasing from Rs 148.68 crore to Rs 170.92 crore. The jewellery segment posted sales income of Rs 472.85 crore (from Rs 288.25 crore) during the first quarter. The sales of other products segment that include eyewear, precision engineering, machine building and clocks grew by over 71 per cent at Rs 23.24 crore. The company’s recent retail initiative – GoldPlus jewellery stores and Titan Eye+ stores for the prescription eyewear market – are showing promising sales, said a company release.

— Our Bureau

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