Watch, eyewear and jewellery maker Titan Industries today posted a 76% increase in its net profit at Rs 143 crore for the first quarter ended June 30, 2011.
The Tata Group company's net profit for the first quarter of last fiscal stood at Rs 81 crore.
The firm's net sales for the three months ended June 30, 2011, grew 61.28% to Rs 2,020 crore, compared to Rs 1,253 crore in the corresponding period of last fiscal, it said in a filing to the Bombay Stock Exchange (BSE).
The company's scrips were trading at Rs 229 per share in the late afternoon trade, up 2% from its previous close on the BSE.
During the quarter, the firm's shareholders approved sub-division of existing equity shares of Rs 10 face value into 10 shares of Rs 1 each.