Sales at Tanishq increase 71% in quarter ending June

In the quarter that ended June 30, 2011, Titan Industries, which owns the famous Tanishq jewellery brand apart from the Titan watch brand and an eyewear division, has earned a 62.5 percent y-o-y increase in its sales to touch $463.65 million. The jewellery unit contributed much to the company’s growth in the quarter, with sales rising 72 percent to $369.88 million.

The other units of the company – the watch division noted 23 percent increase in sales to $70.88 million, while the eyewear unit sales increased 44 percent.

These three months saw the company’s net profits increasing 76.4 percent to $32.46 million. While noting this quarter to be one that has delivered well, the company is keeping a cautious outlook for the next quarter owing to the rise in basic materials like diamonds and gold.