Titan Industries’ net profits up 19% in fiscal Q3

Watch and jewellery manufacturing giant Titan Industries, from the house of the Tata Group, recorded a 19 percent increase in its net profits to $33.1 million at the close of the three months ending December 31, 2011. The company’s revenues were up by 25.6 percent y-o-y to $493.3 million at the close of the said third fiscal quarter.

The company’s jewellery segment, under the brand name of Tanishq saw sales increasing by 25 percent to $401.6 million. Its watch unit sales rose 17 percent to $77.5 million. Other segments of the company including eyewear, precision engineering and accessories, saw sales rise by 70 percent to $19 million.