Titan Company announced second quarter results for financial year 2026-27 on Thursday, November 5. The company's net profit more than doubled to Rs 2,393 crore for the July to September quarter for the current fiscal from Rs 1,120 crore in the corresponding period last year. The bottomline was up 68.5% than Bloomberg estimate of Rs 1,420 crore.
Revenue from operations climbed 10% to Rs 20,614 crore for the quarter ended on September 30, 2026 from Rs 18,725 crore in the same quarter previous year. Titan's operations improved, with EBITDA up 59.1% at Rs 2,984 crore in the quarter under review from Rs 1,875 crore in Q2FY26. EBITDA margin expanded 14.5% year-on-year from 10%.
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The company's revenue slowed as bullion and digi-gold sales collapsed. They fell to Rs 226 crore from Rs 2,430 crore from a year ago period. This decline, mentioned as “other operating revenue” fell to Rs 277 crore from Rs 2,264 crore. Excluding bullion, business income rose about 25%, to Rs 20,465 crore from Rs 16,346 crore.
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During the quarter, Titan received Rs 671 crore as accounting credit for Damas. The company cut the liability it carries for buying the remaining 33% of Damas as it is underperforming. This is non-operational and flows straight into reported profit. Titan also received Rs 536 crore as one-time customs duty benefit. This included Rs 490 crore for Tanishq, Mia, Zoya and Rs 46 crore in CaratLane, which lifted EBIT and margins.
In addition to quarterly results, the company informed that Noel Tata is set to retire as Vice Chair from November 12. Titan also plans to raise up to rs 2,500 crore via NCDs.
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