BENGALURU, May 8, 2026, 14:39 IST
- Titan’s March-quarter profit rose 35% to ₹1,179 crore, but came in below the ₹1,392 crore average estimate from LSEG.
- The Tata Group company recommended a ₹15-a-share dividend as total income climbed 46% to ₹20,300 crore.
- Shares rose more than 6% in afternoon trade after the earnings, even as costs and gold-price volatility stayed in focus.
Titan Company missed quarterly profit estimates on Friday even as net profit rose 35%, with higher raw material and advertising costs taking the edge off strong jewellery demand. Profit for the quarter ended March 31 was ₹1,179 crore, or about $124.6 million; one crore equals 10 million rupees.
The timing matters. Titan is being watched as a read on whether high gold prices are only lifting bill values or also bringing shoppers back into stores. The company’s own April update said jewellery buyer growth turned high-single digit in Q4 after nearly flat buyer growth in the first three quarters of FY26.
Investors had been looking for management comments on demand, same-store sales and margins after the rise in gold prices. Upstox had reported before the numbers that analysts expected double-digit profit and revenue growth, driven largely by jewellery sales.
Titan said consolidated total income rose to ₹20,300 crore from ₹13,891 crore a year earlier. Its board recommended a dividend of ₹15 per equity share, payable after shareholder approval at the annual general meeting.
Jewellery did most of the work. The business grew 50% from a year earlier, helped by new collections and exchange programmes, while consumer confidence in gold held up despite record prices and volatility, the company said. EBIT, or earnings before interest and tax, stood at ₹1,820 crore for the jewellery business, with India jewellery at an 11.1% margin.
The watches business posted total income of ₹1,222 crore, up 8%, while domestic EyeCare income grew 17% to ₹227 crore. Emerging businesses, including SKINN fragrances, IRTH women’s bags and Taneira, grew income 20% but reported a loss for the quarter.
Titan shares rose 6.3% to ₹4,579 on the NSE in afternoon trade after the results and dividend announcement, Moneycontrol reported. For the full year, consolidated total income rose 33% to ₹76,078 crore, while profit after tax increased 52% to ₹5,073 crore.
Managing Director Ajoy Chawla called FY26 “a landmark year for Titan” in the company’s exchange filing, pointing to the speed at which the company moved beyond its earlier ₹50,000-crore annual revenue milestone. NSE Archives
The company also folded in Damas Jewellery during the quarter, adding scale in the Gulf region. Titan’s April update said its international business, including Damas, grew about 156% year on year, though March disruptions in the Middle East hurt both Tanishq and Damas stores.
The wider jewellery trade has also been running hot. Senco Gold said March-quarter revenue rose 46%, while Kalyan Jewellers reported about 64% revenue growth, with both companies citing wedding demand and resilient buying despite volatile gold prices.
But the risk is still margins. Reuters reported Titan’s total expenses rose 85% to ₹255.79 billion as raw material and advertising costs climbed, and analysts had expected a higher profit than the company delivered. If gold stays volatile or buyer growth cools, higher ticket sizes may not be enough.
