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Improved jewellery business boosted Titan Company’s net profit 28.6 per cent to ₹239.98 crore during the second quarter of the fiscal. In a statement, the company said its income from operations rose 55.7 per cent to ₹3,564.67 crore. The jewellery business grew nearly 65 per cent to ₹2,929.38 crore due to redemption of Golden Harvest accounts of customers that had to be closed due to regulatory changes. Income from watches was ₹527.46 crore in Q2, compared with ₹439.07 crore last year. Other businesses of the company comprising precision engineering, a B2B business, the eyewear segment and accessories grew 20.9 per cent in Q2.
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