The company announced the results after market hours on Monday, 30 April 2012.
Meanwhile, the BSE Sensex was up 96.52 points or 0.56% to 17,415.33.
On BSE, 47,000 shares were traded in the counter as against average daily volume of 4.07 lakh shares in the past two weeks.
The stock hit a high of Rs 239 and a low of Rs 236 so far during the day.
Titan Industries` net profit rose 39.4% to Rs 600.15 crore on 35.5% growth in net sales to Rs 8838.38 crore in the year ended 31 March 2012 over the year ended 31 March 2011. Consolidated net profit rose 38.8% to Rs 601.36 crore on 35.4% growth in net sales to Rs 8848.43 crore in the year ended 31 March 2012 over the year ended 31 March 2011.
Titan Industries` Watches business recorded an income of Rs 1529.76 crore, a growth of 20.3%. The income from Jewellery segment grew by 39.8%, crossing the Rs 7000 crore mark to Rs 7064.16 crore. The income from other segments comprising of Precision Engineering, a B2B Business, the Eyewear business and accessories grew by 34.8% from Rs 243.81 crore to Rs 328.81 crore. The Eyewear business expanded rapidly during the year and touched the mark of 200 stores, of Titan Eye Plus, across 70 towns. The Precision Engineering also performed well as the Aerospace and Automotive industries showed signs of recovery from the impact of global economic crisis, the company said in a statement.
Titan said the year FY 2012 witnessed aggressive expansion of its retail network with an addition of over 200 stores by Watches, Jewellery and Eyewear businesses. As on 31 March 2012, the company had 827 stores, with over 1 million sq ft of retail space delivering a retail turnover in excess of Rs 8500 crore, Titan Industries said in a statement.
Commenting on the results, Mr Bhaskar Bhat, Managing Director, Titan Industries said, "It has been a challenging yet fruitful year for Titan Industries. In fact, the company has moved on to a new platform of performance as well as future expectations. Given the high expectations of all our stakeholders and aspirations of our employees, we move confidently into the new financial year".
Titan Industries` board of directors at a meeting held on Monday, 30 April 2012, recommended a dividend Rs 1.75 per share for the year ended March 2012.
Titan Industries retails branded gold jewellery under the brand name Tanishq. It sells watches under its premium brand Titan and economy brand Sonata.
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