Titan Q2 results: Net profit jumps 59% to ₹1,120 crore; jewellery business rises 21%

The country's largest watch and jewellery retailer's total income also advanced 28.5% year-on-year (YoY) to ₹18,837 crore in the July-September period from ₹1,358 crore in the year-ago period.

The company reported strong operational performance as its earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 46% annually to ₹1,987 crore as against ₹1,358 crore in Q2 FY25.

Its operating profit margin expanded to 10.55% in contrast to 9.27% on a yearly basis.

“The quarter witnessed a slow start, and performance progressively improved with the early festive commencement in September. The demand momentum in Navratri was particularly strong, leading to a healthy 21% growth in Q2FY26. Our jewellery business, in particular, benefitted immensely from this late surge, underscoring the brand strengths and enduring consumer affinity for our brands Tanishq, Mia, Zoya and CaratLane,” said CK Venkataraman, Managing Director of Titan Company.

Venkataraman further said the company remains focused on strengthening brand salience and accelerating growth across all its businesses, supported by positive consumer sentiment during the festive season.

Segment-wise updates

The firm’s domestic jewellery business, comprising Tanishq, Mia, and Zoya, grew 18% year-on-year to ₹12,460 crore, while CaratLane delivered an impressive 32% growth, reaching ₹1,072 crore in Q2 FY26. The international jewellery segment nearly doubled to ₹561 crore during the quarter, driven by robust growth momentum in the UAE and North American markets.

“The domestic business saw a strong pick-up in consumer momentum in the festive period during Navratri. Tanishq's attractive gold exchange offer supported sales despite high gold prices. The overall growth was led by ticket size improvements, with buyers witnessing marginal decline compared to Q2FY25,” the company said in a statement.

“During the quarter, Titan announced its plan to acquire a controlling stake in 'Damas Jewellery', one of the most prominent and trusted brands in the GCC region. This acquisition marks a significant step forward in our ambitions, reinforcing our commitment to delivering exceptional value to our customers globally,” added Venkataraman.

On Monday, shares of Titan Company settled at ₹3,731.40 apiece on NSE, falling 0.41%.