TITAN

shines in Q1 as soaring gold prices boost profitability

reported a significant 52.5% increase in first-quarter profit, rising to ₹10.91 billion. This growth was driven by higher gold prices and resilient customer demand. Revenue and Sales: The company's total revenue climbed 21% to ₹148.14 billion. The core jewelry business, which accounts for 88% of total revenue, saw a 19% increase in sales. Despite no growth in the number of customers, sales increased due to higher gold prices. Budget-conscious consumers were seen trading down to low-carat, lightweight jewelry, while others purchased investment-grade gold coins. Affluent customers, however, boosted the watches segment, which saw a 24% rise in revenue. Improved Margins: Titan's Ebit (earnings before interest and tax) margin improved to 11.8%, up from 9.8% in the previous year, indicating better profitability. The performance was aided by a 5.5% rise in spot gold prices during the quarter, as investors sought safe-haven assets amidst global trade tensions.