Titan Q2 Results: Net profit rises 59% YoY to ₹1,120 crore on strong growth across segments

Titan, Tata Group’s jewellery-to-eyewear brand, announced its September quarter results today, November 3, post-market hours, reporting a strong 59% year-on-year (YoY) jump in consolidated net profit to ₹1,120 crore, beating analysts’ estimates, driven by healthy growth across segments.

The company’s consolidated revenue from operations during the reporting quarter stood at ₹16,649 crore, up 22% from ₹13,661 crore in the same period last year.

The jewellery segment, which accounts for over 80% of the company's revenue, recorded a growth of 21% YoY to ₹14,092 crore (excluding bullion and digi-gold sales), driven by healthy growth in its India business.

Tanishq, Mia, and Zoya together recorded an 18% YoY growth to ₹12,640 crore, while CaratLane posted a strong 32% YoY growth to ₹1,072 crore during the same period.

The international jewellery business grew even stronger, with revenue nearly doubling to ₹561 crore. The Jewellery portfolio (Tanishq, Mia, and Zoya) recorded an EBIT at ₹1,381 crore for the quarter at a margin of 11.1%.

"The domestic business witnessed a strong pick-up in consumer momentum during the festive period of Navratri. Tanishq’s attractive gold exchange offers supported sales despite high gold prices. Overall growth was driven by higher ticket sizes, though buyer volumes saw a marginal decline compared to Q2FY25. CaratLane’s targeted coin promotion campaign boosted traffic and conversions, contributing to robust growth for the quarter," the company said in its earnings' filing.

In the watches segment, the business recorded a growth of 13% over Q2FY25, with total revenue reaching ₹1477 crore.

The eyewear business posted a total income of ₹220 crore in Q2, reflecting a 09% YoY growth, and the emerging businesses segment, which includes Indian dress wear under Taneira, fragrances, and women’s fashion accessories (F&FA), recorded a total revenue of ₹142 crore, marking a 34% growth compared to Q1FY25.

Meanwhile, the company said the combined loss from the segment has narrowed to 24 crore from ₹29 crore in the same period last year.

Titan expands global footprint with Damas acquisition

C K Venkataraman, Managing Director of Titan Company, through his comments, stated that the quarter witnessed a slow start but progressively improved with the early festive commencement in September. He noted that the demand momentum during Navratri was particularly strong, leading to a healthy 21% growth in Q2FY26.

The jewellery business, in particular, benefitted immensely from this surge, underscoring the brand’s strength and enduring consumer affinity for Tanishq, Mia, Zoya, and CaratLane.

During the quarter, he also highlighted that Titan announced its plan to acquire a controlling stake in Damas Jewellery, one of the most prominent and trusted brands in the GCC region. He said this acquisition marks a significant step forward in the company’s ambitions, reinforcing its commitment to delivering exceptional value to customers globally.

Venkataraman further added that with the festive season driving positive consumer sentiment, Titan remains focused on strengthening brand salience and accelerating growth across all its businesses.

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