Mumbai: The Titan Company announced its quarter 3 results on Thursday.  In the financial year 2023-2024, profit rose to Rs 1053 crore, up 16.5 per cent compared to last year 2022-2023, Rs 904 crore. The company reported nine per cent YoY growth in Q3 results. Revenue figure increased from operations at Rs 13052 crore in this quarter which was Rs 10875 crore earlier. EBIT (Earnings before interest and tax) increased 11 per cent year on year basis at Rs 1478 crore, previously in the last financial year it was Rs 1328 crore. EBIT margin also declined by 116 points YoY (Year on Year) basis to 11.3 per cent. At the same time income from the Jewellery business rose 23 per cent to Rs 11709.

Tanishq's jewellery segment reported total income for Q3 FY24 at Rs 11709, whereas it grew by 23 per cent compared to Q3 FY23. The growth is estimated to be high due to the festive season. The watches and wearable business records a total income of Rs 982 crore. It also scales up to 21 per cent compared to last year. Total revenue for the analog watch business reported Rs 810 crore. Titan's eye care business segment recorded a total income of Rs 167 crore down by 4 per cent compared to the last financial year. Emerging businesses reported an Rs 112 crore net profit for the financial year 2023-2024. Taneira sales grew 61 per cent compared to FY 23.

Cartlane total income increased by 32 per cent worth Rs 893 crore in the last December quarter. EBIT came to Ra 82 crore with a margin of 9.2 per cent. Titan engineering and automation revenue rose 61 per cent YoY to Rs 202 crore.