<p class="title">Tata Group firm Titan on Friday has reported a jump of 37.9% in its net profit to Rs 328.15 crore in the first quarter ended June 30, 2018.</p>.<p class="bodytext">The company had recorded a net profit of Rs 237.97 crore in the corresponding quarter last fiscal year.</p>.<p class="bodytext">The revenue of the company jumped by 8.1% to Rs 4,406.57 crore in the quarter under consideration, against Rs 4,078.09 crore in the corresponding quarter last fiscal year.</p>.<p class="bodytext">The jewellery division recorded an income growth of 6.3% in the first quarter, pegged at Rs 3,425.15 crore in Q1 FY19, against Rs 3,358.05 crore in Q1 FY18.</p>.<p class="bodytext">The watches business grew from Rs 518.58 crore in the first quarter of last fiscal year to Rs 596.26 crore in June 2018 quarter, recording a growth of 15%.</p>.<p class="bodytext">Retail expansion of the company continued with a net addition of 27 stores across all its businesses in the first quarter, ending the period with a retail area of over 1.95 million sq feet nationally. The company's retail chain strength stood at 1,520 stores at the end of the quarter.</p>.<p class="bodytext">"All our core businesses have shown a healthy growth in profit in addition to market share gains...Despite the single digit revenue growth of our jewellery business in the first quarter, the profits grew by a healthy 16%," Titan Company Managing Director Bhaskar Bhat said.</p>.<p class="bodytext">He added that the company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters.</p>.<p class="bodytext">Shares of Titan Company on Friday settled at Rs 918.30 apiece on the BSE, down 0.26% from previous close.</p>
<p class="title">Tata Group firm Titan on Friday has reported a jump of 37.9% in its net profit to Rs 328.15 crore in the first quarter ended June 30, 2018.</p>.<p class="bodytext">The company had recorded a net profit of Rs 237.97 crore in the corresponding quarter last fiscal year.</p>.<p class="bodytext">The revenue of the company jumped by 8.1% to Rs 4,406.57 crore in the quarter under consideration, against Rs 4,078.09 crore in the corresponding quarter last fiscal year.</p>.<p class="bodytext">The jewellery division recorded an income growth of 6.3% in the first quarter, pegged at Rs 3,425.15 crore in Q1 FY19, against Rs 3,358.05 crore in Q1 FY18.</p>.<p class="bodytext">The watches business grew from Rs 518.58 crore in the first quarter of last fiscal year to Rs 596.26 crore in June 2018 quarter, recording a growth of 15%.</p>.<p class="bodytext">Retail expansion of the company continued with a net addition of 27 stores across all its businesses in the first quarter, ending the period with a retail area of over 1.95 million sq feet nationally. The company's retail chain strength stood at 1,520 stores at the end of the quarter.</p>.<p class="bodytext">"All our core businesses have shown a healthy growth in profit in addition to market share gains...Despite the single digit revenue growth of our jewellery business in the first quarter, the profits grew by a healthy 16%," Titan Company Managing Director Bhaskar Bhat said.</p>.<p class="bodytext">He added that the company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters.</p>.<p class="bodytext">Shares of Titan Company on Friday settled at Rs 918.30 apiece on the BSE, down 0.26% from previous close.</p>
