Titan shares jump as company reports strong first quarter sales
Jul 07, 2022
New Delhi [India], July 7 : Shares of jewellery products company Titan have risen sharply on Thursday after the company reported strong sales in the first quarter of the current financial year (April-June).
The sales increased 205 per cent on a year-on-year basis.
At 3.10 pm, the shares of the company traded 5.9 per cent higher at Rs 2,132.
"The (jewellery) division had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya (AT) in May month after 2 years of Covid induced lockdowns in this period," the company said on Wednesday.
Growth in plain gold jewellery was nearly 3-times higher year-on-year.
The wearable and watches division achieved its highest ever quarterly revenue in the quarter, growing 158 per cent year-on-year with healthy growth witnessed across all brands and products, the company said.
Titan launched several new products in this quarter - including Raga Ceramics and a new range of Titan Mechanicals. Titan Solar was launched to commemorate World Environment Day using crafted using recycled brass, vegan leathers and powered by an in-house solar movement.
