April 12: Titan Company Ltd, a brand owned by Tata Group has recently said that it has witnessed a strong business momentum across all sectors during the quarter January-March.
Also, Titan recorded strong revenue growth of around 60 per cent for its overall March quarter along with the jewellery segment that contributed the highest followed by the wearables, eyewear and watched divisions.
The watches and the wearables division of the company have witnessed a recovery rate of as much as 90 per cent for the first 2 months while the eyewear division’s revenue grew up by 20 per cent in the March quarter.
Furthermore, Titan Ltd has plans to expand its retail presence in the Middle East with the addition of a new store in Dubai.
Titan, in its quarterly update, quoted, “The company continued to witness strong business momentum as the Covid impact on the consumer sentiments seemed to fade in the early part of the quarter. After recording the best ever revenue in Q3, which was a festive season, the company again recorded very strong revenues in Q4.”
The company added, “Sharp decline in gold prices during the quarter also gave impetus to the consumer demand for the industry. The fourth quarter of the last fiscal also had a large B2B (business-to-business) order, contributing to about 10 per cent of the quarter’s growth.”