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 2026
The 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%.
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