Titan Company hits record high after Q1 net profit nearly doubles

The stock up 10% to Rs 616 after posted profit of Rs 238 crore in June quarter

Titan Company hit a record high of Rs 616, up 10% on BSE in early morning trade, after the company’s consolidated net profit in June quarter nearly doubled at Rs 238 crore, on back of healthy growth in jewellery business. Tata Group Company had profit of Rs 121 crore in the same quarter last fiscal.

The sales income during the quarter under review grew 42% to Rs 3,944 crore from 2,770 crore in the corresponding quarter of previous year.

“The jewellery division recorded an income growth of 54% in the first quarter to Rs 3,308 crore as against