Titan poses 88% increase in net profit in Q3

For the third quarter of 2008, jewellery sales at Titan Industries Ltd., witnessed a good jump. The company which is a leading brand in retailing watches and jewellery saw a 53 percent increase in its overall sales, valuing at around 1000 crores ($210 million), for the third quarter in 2008. Its net profits amounted to INR 87 crores ($18 million), with an increase of 88 percent in the said quarter. The rise in gold prices partially fuelled increase in the sale of jewellery, which increased by 71.4 percent to INR 750 crores ($156 million) during the second quarter, as reported by GJEPC.