Titan posts 7 per cent increase in Q4 net profit, declares dividend of Rs 11 per share

Titan Company on Friday reported a standalone net profit of Rs 786 crore for the March quarter, a growth of 7 per cent from Rs 734 crore in the year-ago period.

The company has declared a dividend of Rs 11 per share. The total Income for FY24 at Rs 47,501 crore grew 23 per cent over FY23, the company said in a BSE filing.

In the jewellery business, the company’s total income for the quarter grew 19 per cent over Q4FY23 to Rs 8,998 crore.

The India business grew 20 per cent in the same period.

Tanishq expanded its international presence adding a new store in Dubai and Chicago, US taking Titan’s jewellery international footprint to 16 stores.

During the quarter, Tanishq opened 11 new stores in India while Mia added 16 new stores, the company said. Titan’s watches & wearables business recorded a total Income of Rs 940 crore, up 8 per cent over Q4FY23 while the domestic business grew 9 per cent in the same period.