Indian jeweller and watchmaker Titan reported a 52.5% year-on-year rise in June quarter profit (Q1FY26) to Rs 1,091 crore on Thursday, benefiting from higher gold prices. This is even as budget-conscious consumers shifted to lightweight designs, prompting the jewellery retailer to come out with low-karat collections. The bottomline performance beat analysts’ estimate of Rs 937 crore for the period.
Titan revenue climbed by 24.6%
Revenue surged 24.6% y-o-y to Rs 16,523 crore, also ahead of poll projections of Rs 15,038 crore. Operating profit (Ebitda) grew 46.7% y-o-y to Rs 1,830 crore compared to Rs 1,247 crore a year ago, while Ebitda margin expanded to 11.1% from 9.4% y-o-y, topping the estimate of 10.6% in Q1.
Spot gold prices rose 5.5% during the quarter, continuing its bullish run fuelled by investor flight to safe-haven assets due to US trade jitters and tensions in the West Asia, experts said.
Titan’s jewellery segment biggest contributor to profits
The jewellery segment, Titan’s largest revenue contributor, accounting for 88% of its topline, registered a 19% y-o-y growth (excluding bullion and digi-gold sales) despite an elevated gold price environment. The watches and wearables division delivered one of its best quarters ever, posting a 24% jump in revenue to Rs 1,273 crore, the company said, driven by sale of premium timepieces.
“Consumer confidence in gold as both adornment and store of value remains intact,” Titan MD CK Venkataraman said. “Q1FY26 has been an encouraging start to the fiscal year,” he said.
The EyeCare division grew 13% y-o-y to Rs 238 crore in revenue, while Ebit stood at Rs 20 crore with an 8.4% margin.
Titan Engineering & Automation reported a 56% growth in income to Rs 307 crore. Its automation solutions unit saw 82% growth, while the manufacturing services segment grew 16%, supported by strong traction in aerospace.