Titan Sees Q1 Profit Jump More Than 50% as Gold Prices Climb

Indian jeweller and watchmaker Titan reported a 52.5% rise in first-quarter profit on Thursday, benefiting from higher gold prices, even as budget-conscious consumers traded down to low-karat, lightweight designs.

- Reuters

Titan, home to the Tanishq and CaratLane jewellery brands, posted a profit of ₹10.91 billion (nearly $125 million) for the quarter, compared with a profit of ₹7.15 billion a year earlier.

Spot gold prices rose 5.5% in the quarter, continuing its bullish run fuelled by investor flight to safe-haven assets due, in part, to US trade jitters and tensions in the Middle East.

Overall, the company's revenue rose 21% to ₹148.14 billion.