Titan Q2FY26 Results: Net Profit Up 59%, Sales Rise 22.17%
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Titan Reports 59% Profit Increase in Q2 FY26, Driven by Festive Demand
Published: November 13, 2023. Updated: November 13, 2023.
Key Highlights: Q2 FY26 Performance
Titan Company Limited, a leading Indian jewelry and watchmaker, announced a meaningful 59% increase in consolidated net profit, reaching Rs 1,120 crore (approximately $13.4 million USD as of November 13, 2023) for the September quarter (Q2) of fiscal year 2026. This compares to a net profit of Rs 704 crore in the same quarter of the previous fiscal year, as reported in a regulatory filing to the Bombay Stock Exchange on November 13, 2023.
The company’s sales also saw a significant rise, increasing by 22.17% to Rs 16,461 crore (approximately $1.97 billion USD) in Q2 FY26, up from Rs 13,473 crore in the corresponding quarter last year. Total income, including other income, grew by 28.5% to Rs 18,837 crore. However, total expenses also increased by 26.3% to Rs 17,316 crore.
Jewellery Business Fuels Growth
Titan’s jewellery division was the primary driver of this positive performance,witnessing a 29.3% increase in revenue to Rs 16,522 crore during the quarter. Within the jewellery segment, the domestic business – encompassing brands like Tanishq, Mia, and Zoya – experienced an 18% growth, reaching Rs 12,460 crore. The Economic Times reported that CaratLane, Titan’s online jewellery brand, showed even stronger growth with a 32% increase, reaching Rs 1,072 crore, boosted by a targeted promotional campaign.
The company specifically noted that the domestic business benefited from a “strong pick-up in consumer momentum” during the Navratri festival, a key period for jewellery purchases in India. This suggests that Titan effectively capitalized on the festive season to drive sales.
| Metric | Q2 FY25 (Rs Crore) | Q2 FY26 (Rs Crore) | % Change |
|---|---|---|---|
| Net Profit | 704 | 1,120 | 59.0% |
| Total Sales | 13,473 | 16,461 | 22.17% |
| Total Income | 14,688 | 18,837 | 28.5% |
| Total Expenses | 1 |