Titan's jewellery segment growth recovers after muted Q1 performance

Titan’s June quarter performance was ahead of estimates, as muted show in the jewellery segment offset to an extent the strong show by the watches business. The company reported a 10 per cent growth in revenue to Rs 43.18 billion, compared to an estimates of around Rs 42 billion. The jewellery segment, which accounts for 82 per cent of revenue, reported sales growth of 5.7 per cent over the year-ago period, the lowest in eight quarters, impacted by a high base. Analysts had expected a growth of 11 per cent. The company, which ended FY18 with a growth of 27 per cent in the jewellery .....

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