Titan, the Tata Group's jewellery-to-eyewear company, announced its September-quarter performance today, reporting a 113% year-on-year (YoY) jump in consolidated net profit to ₹2,393 crore, boosted by a one-time gain and resilient demand for higher-margin diamond-studded jewellery.
The watches segment also remained a key growth driver. In the corresponding quarter last year, the company had reported a net profit of ₹1,054 crore. On a sequential basis, net profit also improved from ₹1,777 crore reported in the June quarter. Excluding a one-time gain of ₹671 crore from the revaluation of a financial liability, profit rose 54% YoY to ₹1,722 crore.
On the top line, the company reported consolidated revenue from operations of ₹20,533 crore during the quarter, registering a 25% YoY increase from ₹16,407 crore in the corresponding quarter last year. International jewellery business grew 105%The jewellery segment, which accounts for over 80% of the company's revenue, recorded 24% YoY growth to ₹17,495 crore (excluding bullion and digital gold sales).
However, growth moderated from 39% in the preceding quarter, as the later timing of key festivals pushed some purchases into the December quarter. Sales of higher-margin studded jewellery grew more than 30%, while lower-margin gold coin sales declined, resulting in a more favourable product mix that analysts expected to support jewellery margins.
Tanishq, Mia and Zoya together recorded 20% growth to ₹14,935 crore, while CaratLane posted a strong 31% increase to ₹1,408 crore during the same period. The India business clocked an EBIT of ₹2,281 crore at a margin of 14%. The international jewellery business delivered even stronger growth, with revenue rising 105% YoY to ₹1,152 crore.
The overall jewellery portfolio recorded an EBIT of ₹2,300 crore for the quarter at a margin of 13%. The watches business achieved total income of approximately ₹1,881 crore for the quarter, registering 27% growth over Q2 FY26. It also reported an EBIT of approximately ₹412 crore at a margin of 21.9%.
The eyewear business accelerated its growth momentum during the quarter through focused execution and continued premiumisation across its product portfolio. The segment achieved total income of approximately ₹281 crore in Q2 FY27, growing 28% over Q2 FY26, and recorded an EBIT of approximately ₹23 crore at a margin of 8.2%.
Titan shares remain higher in 2026The Tata Group stock remained higher in 2026, even as market volatility weighed on its performance. However, it showed resilience, recovering all its losses following a correction. The shares have gained 21% in 2026, building on a 24% jump in 2025.
Over the last 10 years, the stock has delivered negative returns only in 2024. During this period, its share price has surged from ₹326 to ₹4,834, translating into a massive gain of 1,382%. Disclaimer: We advise investors to check with certified experts before making any investment decisions.