Titan Profit Rises 54% As Jewellery Demand Stays Strong

TITAN has delivered a strong Q2 FY27 performance, but there's an interesting detail behind its profit growth. The company reported a 54% year-on-year increase in adjusted net profit to ₹1,722 crore. Revenue from products and services grew 23.5% to ₹20,337 crore. But here's what caught my attention. Titan's jewellery business recorded 21% sales growth despite rising gold prices. More importantly, diamond-studded jewellery sales grew over 30%, while gold coin sales declined. This tells us something about changing consumer behaviour. Even when gold becomes expensive, customers may continue spending on premium jewellery, although the number of purchases can change. There is another important factor: Titan's reported profit was boosted by a one-time gain of ₹671 crore from the revaluation of a financial liability. Excluding this gain, profit still grew 54% to ₹1,722 crore. For investors, I would track jewellery demand, margins, gold prices and festive-season sales. The bigger story is whether Titan can maintain its premium product momentum while managing the impact of higher gold prices. Because in jewellery retail, revenue growth matters, but the product mix and margins matter just as much.