Titan's sales across standalone biz up 12% in Oct-Dec

New Delhi [India], January 8 : The Titan Company has said its sales across standalone businesses went up 12 per cent year-on-year in the third quarter of fiscal 2022-23.
The positive consumer sentiment helped all categories clock healthy double-digit growths despite a high base in the same period of last year, according to the company statement shared with exchanges.
The company statement said healthy new buyer growths in the festive period, higher value purchases in the studded category and unique new collections for the season helped the jewellery division achieve an 11 per cent growth y-o-y (excluding bullion sales).
Watches division's 14 per cent growth y-o-y was led by strong traction in the wearables space, the company said. A slew of exciting product launches in the fiscal year leading to the festive season contributed well to more than tripling sales from the wearables sub-segment in the quarter compared to same period last year, according to the company statement.
A standalone statement represents a company's financial performance as a single entity, while a consolidated statement reports a company's financial performance on the whole. It includes information about its associate companies, subsidiary companies, and joint ventures.