Titan share price falls nearly 2% as Q3 net profit marginally declines to ₹1,047 crore

The stock was down 1.67% to ₹3,537.45 apiece on the National Stock Exchange (NSE) at 9:28 am. Its market capitalisation stood at ₹3,14,049.92 crore.

Titan Q3 results

The company's consolidated profit after tax (PAT) stood at ₹1,047 crore in Q3 FY25, reflecting a marginal decline of 0.56% against ₹1,053 crore in the year-ago period.

The sales jumped 25.68% to ₹17,550 crore in the latest December quarter, compared to ₹13,963 crore in the corresponding period last fiscal.

The total expenses rose 27.47% year-on-year (YoY) to ₹16,472 crore, while total income jumped 24.9% to ₹17,868 crore.

In an earnings statement, the company said, "The festive quarter brought consumer cheer with secondary sales recording an impressive 28% growth buoyed by higher gold prices, wedding-related purchases growing by 29% and healthy same-store sales growth of 22%...compared to Q3FY24."

During the quarter, Tanishq added 11 stores, while Mia by Tanishq opened 13 new stores in the domestic market.

Revenue from the watches and wearables segment grew 15.31% to ₹1,137 crore.

In the watch segment, "analog segment recorded a robust of 20% growth over Q3FY24 primarily led by Titan brand clocking 18% growth in the same period".

Meanwhile, the "wearables segment declined by 20% with both average selling prices and volumes declining by 8% and 7%, respectively, compared to Q3FY24".

In Q3 FY25, Titan opened 23 new stores, including 12 Titan World stores, 10 Helios stores and one Fastrack store.

The revenue of the eyecare segment rose 16.66% YoY to 196 crore. The fragrances business also posted a growth of 27%, led by a 23% growth in SKINN.

"Within Fashion Accessories, excluding the discontinued Belts & Wallets segment, Women's Bags (IRTH & Fastrack) clocked an impressive growth of 25 per cent over the same period last year," Titan said.