CaratLane’s expenses in FY16 rise 15.3%

Titan Company acquired online jewellery portal CaratLane reported a moderate rise of 12 percent in its revenues to Rs 141 crore, in FY16, as per reports. This is a slight optimism from the loss of Rs 43 crore in 2014-15.

Expenses in the FY16 period valued R 195 crore rising 15.3 percent on y-o-y basis. Total assets dipped 26.3 percent to R162 crore.

Titan Company owns 62 percent stake in CaratLane, which it acquired last year, as per reports.

The company which operated the jewellery portal - CaratLane Trading clocked net loss worth Rs 63 crore or a 46 percent dip on y-o-y basis. Its reserves stood at R122 crore dipping 34 percent.

Carat Lane Trading Private Limited delves in the industry of design, manufacture, trade and retail in the gem and jewellery sector, reports add.