Titan Q3 Update - Strong Growth Momentum Continues: Motilal Oswal
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Motilal Oswal Report
Titan Company Ltd. released its pre-quarterly update for Q3 FY22. Here are the key highlights:
Titan witnessed strong demand across its consumer businesses in Q3 FY22. It clocked 36% growth over the festive quarter last year.
Buoyancy in jewellery demand, driven by festive purchases in October and November 2021, helped the division achieve significant revenue for the quarter. The Jewelry segment reported 37% YoY growth (excluding bullion sales).
Watches and wearables division saw strong growth momentum, with multi-brand channels (both online and offline) growing handsomely during the quarter – largely on the back of the Titan brand. The segment reported 28% YoY growth.
Eyewear division posted YoY sales growth of ~27% in Q3 FY22. The division's strong growth was driven by sunglasses and frames, with a good demand uptick also seen in international brands. .
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