Titan Q1 results: Net profit rises 53% to ₹1,091 crore; revenue jumps 25%, EBITDA advances 47%

Titan Company, the country's largest watch and jewellery retailer, on Thursday, August 7, reported net profit of ₹1,091 crore in the first quarter of current financial year (Q1FY26), marking an upside of 53% from ₹715 crore in the same period last year.

Titan's revenue from operations advanced 25% annually to ₹16,523 crore in April-June period from ₹13,266 crore in the year-ago period.

The company reported strong operational performance as its earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 47% annually to ₹1,830 crore and its operating profit margin expanded by 170 basis points to 11.08%.

During the quarter, Titan sold gold-ingots aggregating ₹1,662 crore various customer dealing in bullion.

The company's jewellery portfolio grew 19% to ₹12,797 crore despite an elevated gold price environment and challenging market conditions and watches division delivered growth of 24% achieving ₹1,273 crore, marking one of its best-ever quarters, the Bengaluru-based company said.

Q1 Jewellery business update

Titan’s total income from jewellery business rose 19% ₹12,797 crores. Tanishq, Mia and Zoya grew 18% to ₹11,217 crore and CaratLane clocked a strong 39% growth to ₹1,026 crore in the same period.

The international jewellery business grew 49% over Q1FY25 to ₹554 crore demonstrating strong growth momentum.

High gold prices and challenging market conditions saw customers gravitate toward gold purchases driving better growths in gold jewellery and coins, vis-a-vis studded. Ticket size improvement largely offset the impact of elevated gold prices on customer traffic in the quarter, Titan said

Q1 Watches business update

Watches business had an exceptional quarter recording a growth of 24% over Q1FY25 achieving a total Income ₹1,273 crore, EBIT came in at ₹287 crores clocking 22.6% margin for Q1FY26.

Analog watches powered the growth expanding 28% over Q1FY25 driven by both volume uptake and pricing actions. The smartwatches segment focused on profitability optimization. The key brands of Titan, Sonata and Fastrack, grew in healthy double-digits during the quarter, Titan added.

"Q1FY26 has been an encouraging start to the fiscal year with 21% consolidated revenue growth, demonstrating the strength of our diversified business model. Our Jewellery business continues to show remarkable resilience despite headwinds from elevated gold prices,” said CK Venkataraman, Managing Director of the company.

“Consumer confidence in gold as both adornment and store of value remains intact, supporting our market leadership position. Watches delivered one of its best-ever quarters, achieving exceptional performance in both revenue growth and margins. This validates our premiumization strategy and the strong consumer connect our brands have established,” Venkataraman added.

Titan shares ended 0.05% lower ahead of its earnings announcement.