Titan Q2 profit jumps 56% to $177M as jewellery drives growth
What's the deal? Titan CompanyDealroom has a profile for this one. Try Dealroom → reported a 56.26% year-on-year rise in standalone net profit to US$213.5M for the quarter ended September 30, 2026, beating Zee BusinessDealroom has a profile for this one. Try Dealroom → estimates of US$180.6M. A year earlier, the jewellery and watches maker posted US$136.6M.
The numbers: Revenue from operations rose 7.84% to US$2.42B, missing the US$2.62B estimate. Profit before tax climbed nearly 56% to US$288.3M, while total expenses edged up just 3.53% to US$2.15B.
What drove it? The jewellery business grew revenue 24% to roughly US$2.38B, helped by demand for design-led, studded pieces and larger average ticket sizes. The combined Tanishq, MiaDealroom has a profile for this one. Try Dealroom → and ZayaDealroom has a profile for this one. Try Dealroom → brands rose 20% to US$2.03B, and CaratLane grew 31% to US$191.2M.
Beyond India: The international jewellery business more than doubled, up 105% to US$156.4M. During the quarter, Titan added 42 net stores in India and opened a Tanishq store in Los Angeles.
Other segments: The watches business posted total income of about US$255.4M, up 27%, with analogue watches growing in the early thirties and smartwatches returning to growth. EyeCare income rose 28% to US$38.2M.
The fundraise: Titan's board approved a US$339.5M fundraise. The company had flagged a board meeting to consider issuing rated, listed, unsecured non-convertible debentures (NCDs) on a private placement basis.
The signal: Titan's profit surge outpaced modest revenue growth, boosted partly by a US$72.8M customs duty gain in the domestic jewellery division. Stripping that out, domestic jewellery EBIT margin fell to 10.7% from a reported 14% — a reminder that one-off gains flattered an otherwise steady quarter.
Read more: msn.com
Image credit: shankar s.
