Titan posts 11% rise in profit, faces headwinds from consumption slowdown

Jewellery to watch maker Titan on Tuesday reported a 10.84 per cent rise in its consolidated net profit at Rs 363.74 crore in the first quarter ended June when compared with the corresponding period last year.

Total consolidated income of the firm rose 16% year-on-year to Rs 5,208.17 crore in Q1FY20. The company's growth was backed by a healthy growth in the watches division though sales in jewellery segment took a hit.

"The macro-economic environment coupled with lower consumption have impacted some of our businesses. The retail growth in jewellery was driven by encouraging performance in the studded as well as wedding