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Our Bureau

Bangalore , Oct. 18

Titan Industries has posted a 56.21 per cent rise in net profit for the second quarter ended September 30, 2006 at Rs 32.18 crore compared with Rs 20.6 crore posted during the corresponding quarter of the previous fiscal. Total income for Q2 has increased by 47.85 per cent to Rs 524.06 crore (Rs 354.45 crore).

Jewellery income grew 71.94 per cent to Rs 296.90 crore (Rs 172.67 crore) due to a spurt in demand on account of reduction in gold prices, said a company release. Watch sales grew by over 21.5 per cent, with its income increasing from Rs 185.02 crore in 2005 to Rs 224.86 crore in 2006.

Net profit for the first half of the current fiscal has increased by over 41 per cent to Rs 36.27 crore (Rs 25.63 crore). Jewellery sales grew 73 per cent to Rs 585.15 crore. Total sales went up by 48 per cent to Rs 988.43 crore (Rs 665.63 crore). According to the release, Titan Industries' continuous investment in "brand building and advertising is yielding tangible results."

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