Titan revenue grows 20% in Q1 FY24 on strong performance in key businesses

[ad_1]


Titan Company recorded revenue growth of 20 per cent YoY for Q1 FY24 with all key consumer businesses exhibiting double digit growth in the quarter, it said in its pre quarterly update. 


It added a total of 68 stores (including CaratLane) during the quarter taking Titan’s retail presence to 2,778 stores. 

The company’s jewellery division witnessed a  satisfactory performance and grew 21  per cent YoY in the Apirl-June quarter. “Buyer growth was higher than average ticket size growth for this period. Despite significant volatility in gold prices throughout the quarter, Akshaya Tritiya sales in April and wedding purchases in June were robust,” the company said.

The company also said that the key categories of gold and studded grew well with no notable change in the overall product mix. 


The watches & wearable division witnessed a 13 per cent YoY growth which comprised of 8 per cent growth in analog watches segment and 84 per cent YoY growth in wearables. 


Its eyecare division saw sales growth of 10 per cent YoY in the quarter and the Trade & Distribution (Trade) channel grew faster than Titan Eye+ improving its contribution in the overall pie.


In its emerging businesses, fragrances & fashion accessories grew 11  per cent YoY driven by a 9 per cent growth in fragrances and 13 per cent growth in fashion accessories. Taneira’s Q1 sales grew by 81 per cent YoY.  “CaratLane grew 32 per cent YoY driven with healthy contributions from multiple avenues that included sales during Akshaya Tritiya,” it said. 

First Published: Jul 06 2023 | 7:42 PM IST

[ad_2]

Source link

slot gacor slot gacor togel macau slot hoki bandar togel slot dana slot mahjong link slot link slot777 slot gampang maxwin slot hoki slot mahjong slot maxwin slot mpo slot777 slot toto slot toto situs toto toto slot situs toto situs toto situs toto situs toto slot88 toto slot slot gacor thailand slot bet receh situs toto situs toto slot toto slot situs toto situs toto situs toto situs togel macau toto slot slot demo slot pulsa slot pragmatic situs toto deposit dana 10k surga slot toto slot link situs toto situs toto slot situs toto situs toto slot777 slot gacor situs toto slot slot pulsa 10k toto togel situs toto slot situs toto slot gacor terpercaya slot dana slot gacor pay4d agen sbobet kedai168 kedai168 deposit pulsa situs toto slot pulsa situs toto slot pulsa situs toto situs toto situs toto slot dana toto slot situs toto slot pulsa toto slot situs toto slot pulsa situs toto situs toto situs toto toto slot toto slot