Titan Company, the jewellery and watch arm of the Tata Group, reported a 6.17% year-on-year growth in its standalone net profit to ₹370.73 crore during the first quarter ended June 30.
In the quarter, the company’s standalone total income increased 14.72% to ₹4,995.64 crore in Q1FY20 against ₹4,354.52 crore in Q1FY19, the company said in a statement on Tuesday.
Bhaskar Bhat, managing director, said, “The macro-economic environment coupled with lower consumption have impacted some of our businesses. The retail growth in jewellery was driven by encouraging performance in the studded as well as wedding jewellery segments.”