Watch and jewellery maker Titan Industries Ltd said its net profit for the second quarter ended 30 September 2010 jumped 64.6% to Rs127.7 crore, against Rs77.6 crore in the same quarter last year.
Titan's net sales grew 33.9% at Rs1,536 crore during the three-month period under review, compared to Rs1,147 crore in the last fiscal, the company said in a statement.
"All businesses of the company have recorded good performance compared to last year due to good retail sales growth," Bhaskar Bhat, managing director, Titan Industries, said in a statement.
The revenues from watches grew 21.3% at Rs358.4 crore, compared to Rs295.5 crore. The jewellery business registered a jump of 36.7% in the second quarter with sales of Rs1,124.6 crore, compared to Rs822.6 crore in the last fiscal. Other two businesses - precision engineering and eyewear - also saw collective sales of Rs56 crore during the quarter compared to Rs31 crore in the previous fiscal, the statement added.
On Thursday, Titan Industries shares ended 2.5% up at Rs3,579 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.1% down at 20,005 points
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