Titan Confident Jewellery Business Will Maintain Momentum
Titan Co. expects growth to pick up this year even as the profit of India's largest branded jewellery maker fell in the quarter ended December.
“I understand that sometimes we may not be aligned with outside expectations...Titan is an ‘engaged’ company and respects investor opinions," CK Venkataraman, managing director of Titan, told BloombergQuint’s Niraj Shah in an interview.
The company's net profit declined 11% over a year earlier in the third quarter. While the jewellery business grew, watches and eyewear segments saw revenue decline.
Venkataraman is optimistic about growth in the upcoming quarters. Recovery in the jewellery industry and intrinsic opportunity in Tanishq itself will help Titan pull through the looming growth, he said.
In the company's eyewear business, Venkataraman said the ‘book a home eye test’ has scaling drawbacks with availability only in Bengaluru. But the idea will shine through in time, he said.
Venkataraman said Titan has a high expectation from FY22. He, however, didn't offer any guidance for the ongoing quarter.
Watch the full conversation here: