Titan Company Ltd on November 5 reported a 114 percent increase in net profit at Rs 2,393 crore for the quarter ended September 30, 2026 as a shift towards higher-margin diamond-studded jewellery helped boost profitability despite slower growth in its overall jewellery business. It beat CNBC-Awaaz's estimates of Rs 1,460 crore.

The company's total income rose 14 percent to Rs 21,430 crore in Q2FY27 as compared to Rs 18,837 crore a year ago.

"Q2FY27 was a quarter of healthy, broad-based growth for Titan, with our businesses registering a 25 percent consolidated operating growth year -on-year. A strong base quarter and a notable shift in the festive calendar into Q3FY27 notwithstanding, consumer demand held up well for most of the period. Our jewellery business grew well with design-led collections and attractive consumer offers resonating across markets and age groups," Ajoy Chawla, managing director at the company stated in a release.

The company's jewellery portfolio grew 24 percent to Rs 17,495 crore, with the India business income rising 21 percent to Rs 16,343 crore, comprising of Tanishq, Mia and Zaya business (combined) growing 20 percent to Rs 14,935 crores and CaratLane recording 31 percent growth to reach Rs 1,408 crore.

During the quarter, the jewellery division added net 42 stores in India, while Tanishq also opened a new store in Los Angeles, USA.

The international jewellery business reported a 10 percent growth to Rs 1,152 crore, as the combined Tanishq, Mia and CaratLane business grew 41 percent to Rs 788 crore, while core Damas business clocked a revenue of Rs 364 crore.

The watches business saw strong outperformance with analog watches growing in the early thirties, and the smart watches business going back to growth. The business reported a total income of Rs 1,881 crore, a 27 percent year-on-year growth  and added 34 net new stores during the quarter.

Meanwhile, the eyecare business rose 28 percent YoY to report a total income of Rs 281 crore.

The emerging business comprising of brands such as Irth and Taneira reported a 21 percent YoY rise in total income to Rs 171 crore, while recording a loss of Rs 6 crore.