Titan Sales and Profit Increase

RAPAPORT... Shares in Titan Company rose after the retailer reported growthin revenue and profit in the second fiscal quarter. Sales jumped 28% to INR 45.95 billion ($630.2 million) inthe three months ending September 30, while profit climbed 8% to INR 3.01billion ($41.3 million), the Indian company said last week. Jewelry sales grew29% to INR 35.8236.45billion ($491.3499.9million) during the quarter, with watch revenue up 17% to INR 6.76 79 billion($92.793.1million). The jeweler's stock price climbed 6% Monday after the announcement, which it released following market close on Friday. "The jewelry business picked up this quarter after a softfirst quarter, and the watches business had one of its best quarters, with anextremely healthy growth in bottom line for the first half," Titan managingdirector Bhaskar Bhat said. Titan, which claims to be India's largest jewelry retailer,opened 20 stores during the quarter, giving it a total of 1,540 stores aroundthe country. Image: A diamond and emerald bangle by Titan brand Tanishq. (Titan Company)