{"id":13793,"date":"2022-02-09T13:10:30","date_gmt":"2022-02-09T07:40:30","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=13793"},"modified":"2022-02-09T13:10:33","modified_gmt":"2022-02-09T07:40:33","slug":"titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/","title":{"rendered":"Titan: Q3 One Of Its Best Quarters In Terms Of Growth &#038; Profitability"},"content":{"rendered":"\n<p>Titan Co., India\u2019s largest jewellery retailer, recorded a 37% jump in jewellery sales (excluding bullion) to Rs.8,563 crore during the Q3 that ended 31<sup>st<\/sup> December 2021, mainly driven by festive purchases in October and November.<\/p>\n\n\n\n<p>The jewellery division, which comprises brands Tanishq, Zoya, Mia and CaratLane, achieved earnings before interest and tax (EBIT) of Rs.1,260 crore for the quarter, an increase of 68% compared to Rs.752 crore in the same quarter of the previous year.<\/p>\n\n\n\n<p>\u201cEBIT margins, the best in preceding seven quarters, were driven by scale induced healthy operating leverage gains, better product mix and higher realisation due to diamonds\u2019 price appreciation,\u201d the company said.<\/p>\n\n\n\n<p>Among its jewellery segment highlights, Titan noted that ticket sizes were stable year-on-year, and Tanishq\u2019s regionalisation strategy of winning in focus markets led to higher new buyer growth. Wedding sales were 40% higher year-on-year along with higher contribution to total sales. Titan said both plain and studded categories grew ~35%+ YoY. The studded ratio was at 26% in the overall mix and saw marginal improvement over same period last year, it added.<\/p>\n\n\n\n<p>CaratLane continued to do well in both online and offline channels emerging as a strong omni player. For Q3 of FY22, it clocked a revenue of Rs.446 crore and a profit before tax of Rs.28 crore compared to revenue of Rs.273 crore and a profit before tax of Rs.16 crore in Q3 FY21.<\/p>\n\n\n\n<p>C.K. Venkataraman, Managing Director, Titan Co., stated: \u201cThe festive purchases in the quarter have driven Titan\u2019s strong growth in all businesses of the company and the quarter has turned out to be one of the best quarters in terms of growth and profitability. We continue to leverage technology and innovations in launching our new products and campaigns which have been received very well by the consumers. While the onset of Covid wave 3 has slowed down the strong momentum, the company is hopeful of ending the year on a positive note.\u201d In an earnings conference call, the company said that buoyed by the success of its Dubai jewellery store, it plans to open two more in the next 2-3 months; and its first North America jewellery store is slated to open in May-June this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Titan Co., India\u2019s largest jewellery retailer, recorded a 37% jump in jewellery sales (excluding bullion) to Rs.8,563 crore during the Q3 that ended 31st December 2021, mainly driven by festive purchases in October and November. The jewellery division, which comprises brands Tanishq, Zoya, Mia and CaratLane, achieved earnings before interest and tax (EBIT) of Rs.1,260&hellip;<\/p>\n","protected":false},"author":1,"featured_media":13794,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-13793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Titan: Q3 One Of Its Best Quarters In Terms Of Growth &amp; Profitability - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Titan: Q3 One Of Its Best Quarters In Terms Of Growth &amp; Profitability - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"Titan Co., India\u2019s largest jewellery retailer, recorded a 37% jump in jewellery sales (excluding bullion) to Rs.8,563 crore during the Q3 that ended 31st December 2021, mainly driven by festive purchases in October and November. The jewellery division, which comprises brands Tanishq, Zoya, Mia and CaratLane, achieved earnings before interest and tax (EBIT) of Rs.1,260&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/\" \/>\n<meta property=\"og:site_name\" content=\"Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-09T07:40:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-09T07:40:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2022\/02\/02banner-7.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\",\"url\":\"https:\/\/gjepc.org\/solitaire\/\",\"name\":\"Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":\"https:\/\/gjepc.org\/solitaire\/?s={search_term_string}\",\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/gjepc.org\/solitaire\/wp-content\/uploads\/2022\/02\/02banner-7.jpg\",\"width\":1000,\"height\":500},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/#webpage\",\"url\":\"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/\",\"name\":\"Titan: Q3 One Of Its Best Quarters In Terms Of Growth & Profitability - Solitaire magazine is a International jewellery magazine - India\\u2019s leading B2B gem and jewellery magazine\",\"isPartOf\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/#primaryimage\"},\"datePublished\":\"2022-02-09T07:40:30+00:00\",\"dateModified\":\"2022-02-09T07:40:33+00:00\",\"author\":{\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gjepc.org\/solitaire\/titan-q3-one-of-its-best-quarters-in-terms-of-growth-profitability\/\"]}]},{\"@type\":[\"Person\"],\"@id\":\"https:\/\/gjepc.org\/solitaire\/#\/schema\/person\/b614a6d604f6c36c387b4c876bb33d79\",\"name\":\"GJEPC\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/gjepc.org\/solitaire\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f6c5b479a8ec14da0f88385e2b6cd51ccb37ac80c31409ecaebe5524700952a2?s=96&d=mm&r=g\",\"caption\":\"GJEPC\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","_links":{"self":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/13793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/comments?post=13793"}],"version-history":[{"count":1,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/13793\/revisions"}],"predecessor-version":[{"id":13795,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/posts\/13793\/revisions\/13795"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media\/13794"}],"wp:attachment":[{"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/media?parent=13793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/categories?post=13793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/tags?post=13793"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/gjepc.org\/solitaire\/wp-json\/wp\/v2\/thb-sponsors?post=13793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}