Titan Company, which had seen a sharp fall in its revenue and profit in the after-effects of the COVID-19 lock-down, today reported a 15% increase in festival sales of jewellery items. This continues a theme of recovery seen in the last few months. A 15% improvement during the festival period indicates that the momentum continues, it said.

At the same time, it should be noted that a 15% increase in revenue may not mean an improvement in the volume of jewellery sold, as the price of gold has increased by about 30% so far this year. Most of the demand during the July-September period was for plain gold jewellery, which does not lose their value when resold.

“Titan Company saw good traction across all its businesses in the festive season. The jewellery business witnessed a mid-teens growth (around 15%) for the 30-day festive season starting from Dussehra till Diwali over the corresponding period last year, with a decent recovery in studded Jewellery sales. The Watches and Wearables business also did quite well in the festive season with recovery close to last year levels. Eyewear business has also witnessed good traction.” The company said.

ON Thursday, shares of Titan Company closed at Rs.1292 per share, up by Rs. 11.90 from the previous closing on the NSE.

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