登入姓名
登入密碼
登記為討論區會員
忘記密碼
主頁 > 最新消息 > 亞洲珠寶市場動向 > 10 - 08 - 2017 Summer Rush Drives ...
返回
10 - 08 - 2017 Summer Rush Drives Titan Revenue Boom
RAPAPORT... Indian jeweler Titan Company enjoyed strong sales growth and profit in the first fiscal quarter, attributing it in part to the summer festival season and a rush to buy before the country’s goods and services tax (GST) took effect in July.

Revenue for the quarter, which ended June 30, jumped 42% year on year to $634.8 million (INR 40.5 billion), the company reported last week in results that included its subsidiaries. Its net profit, meanwhile, nearly doubled, shooting up 97% to $37.3 million (INR 2.38 billion).

Jewelry was the main force behind that growth, with sales in the category rising 56% to $525.5 million (INR 33.52 billion). The watches division recorded income growth of 2.4%, hitting $80.2 million (INR 5.12 billion) year on year.

“Our jewelry business has delivered a stellar performance in the first quarter due to a combination of one of the best Akshaya Tritiya [festival] sales, a very successful gold exchange program, as well as an element of advancement of sales in June 2017 in anticipation of higher GST rates,” said Bhaskar Bhat, Titan’s managing director.

The GST system includes new taxes on diamond and jewelry transactions, as well as additional levies for manufacturing.

“Driven by the jewelry business, our profits saw outstanding growth this quarter,” Bhat stated.

Titan also expanded its retail presence, opening 31 new stores during the three-month period for a total of 1,397 locations. Plans for further expansion are in place for the second quarter, the jeweler said.


 

Source: Rapaport  09-08-2017

 

 
返回

 
60th Bangkok Gems & Jewelry Fair
日期 : 2017年9月6日 - 9月10日
地點 : Impact Exhibition & Convention Centre, Bangkok Thailand
詳 情 >
 
商號名稱:
進階搜尋 |
 




外匯行情由Investing.com的香港網站香港站提供。

 
即時資訊   |   行業招聘  |  商會簡介  |  聯絡我們  |  香港珠寶雜誌 |  香港玉石鑑定中心 |  隱私權保護政策 © Copyright 2012 HKJJA. All rights reserved. Powered by BIC Online