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Sales at Tanishq increase 71% in quarter ending June
Titan Industries’ net profits up 76.4%
By: Diamond World News Service
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Jul 29 2011 3:51PM
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Reference: 6195  

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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.

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