Titan Company: Recovery in jewellery biz restricts hit to Q2 performance

Revenue growth, however, could stabilise once recovery picks up

Led by significant recovery in its jewellery division, Titan Company was able to restrict the hit to revenues and operating performance in the September quarter (Q2). 

After a 74 per cent year-on-year decline in Q1, sales declined 11 per cent in core operations in Q2 aided by the unlocking of the country, higher walk-ins, and conversions. The fall in overall revenue fall was restricted to 2 per cent, largely because of the higher bullion (coin) sales. 

Customers’ preference for raw gold (gold coins), perceived as a store of value thanks to rising gold prices, led to a six-fold increase in coin sales