The Tata Group company posted a consolidated net profit of ₹1,124 crore for the quarter ended March, up 29.2% year-on-year from ₹870 crore. However, the figure fell short of the CNBC-TV18 poll estimate of ₹1,330 crore.
Revenue from operations surged 77.6% year-on-year to ₹23,934 crore, sharply ahead of the estimate of ₹20,150 crore, aided by strong traction in the jewellery business.
EBITDA rose 19.3% to ₹1,715 crore from ₹1,438 crore in the year-ago period, but remained below the poll estimate of ₹2,128 crore. EBITDA margin contracted to 7.2% from 10.7% a year earlier, missing the Street estimate of 10.6%.
Titan said its jewellery portfolio grew 50% to around ₹18,195 crore during the quarter, excluding bullion and digi-gold sales, reflecting sustained consumer demand despite elevated gold prices.
The watches business also continued to benefit from premiumisation trends, with analogue watch sales growing 15% year-on-year.
Managing Director Ajoy Chawla described FY26 as a “landmark year” for the company, noting that Titan added nearly ₹25,000 crore in annual revenue within a single year after crossing the ₹50,000 crore milestone in FY25.
He said the quarter was led by the “Festival of Diamonds” campaign across brands including Tanishq, Mia, Zaya, CaratLane, beYon and Damas.
During the quarter, Titan also completed the acquisition of a 67% stake in Damas Jewellery, strengthening its presence in the Gulf region and marking a key step in its global expansion strategy.
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The board recommended a dividend of ₹15 per equity share for FY26, subject to shareholder approval.
Following the earnings announcement, shares of Titan surged over 6% to hit an intraday high of ₹4,579.00 on the NSE.
