Titan jewellery income grew 9% over Q1FY24
Consolidated an income jump by 12% in Q1FY25 Titan (Consolidated) recorded an income of Rs12,386 crores growing by 12% in Q1FY25 compared to Q1FY24. The PBT was lower by 3% at Rs973 Cr compared to Q1FY24 due to financial costs of Caratlane acquisition (acquisition costs were not part of the base quarter). Business Performance (Standalone) for Jewellery reported, total Income for the quarter grew 9% over Q1FY24 to Rs 9,879 crores. The India business grew 8% in the same period. EBIT at Rs 1,103 crores came at a margin of 11.2% for the quarter. The first six weeks of the quarter that included Akshaya Tritiya saw 20% retail growth. Q1 saw multiple forces coming together that impacted topline. A steep rally in gold rates (20% increase over Q1FY24), election led restrictions in many markets, very few wedding dates and an unprecedented heat wave across the country weighed on overall consumer demand. Tanishq launched it enchanted trails diamon...