Titan Q4 results: Revenue grows 17% on robust demand for jewelry products

Indian jeweller and watchmaker Titan said on Friday its revenue grew 17% in the fourth quarter, aided by strong demand for its jewelry products.

Titan, a joint venture between salt-to-software conglomerate Tata Group and Tamilnadu Industrial Development Corp, saw a 19% growth from its domestic jewelry operations. It accounted for roughly 90% of Titan's total revenue as on Dec. 31.

The jewelery segment, which houses brands including Tanishq and CaratLane, was boosted by healthy inflow of buyers and double-digit percentage growth in its same-store sales.

Its watches and wearables segment, which sells products from brands like Fastrack, Police, and Coach, saw a 6% revenue growth.

The jeweller had reported third-quarter profit below estimates as escalating costs of bullion outshined demand during the festive season.

Titan has seen a growth in revenue for thirteen consecutive quarters.