Titan will focus on all parts of product mix, says CFO Sonthalia
Titan will continue to focus on all parts of the product mix, Ashok Sonthalia, chief financial officer (CFO), told CNBC-TV18.
Titan will continue to focus on all parts of the product mix, Ashok Sonthalia, chief financial officer (CFO) said on Thursday.
“Our focus has always been to bring out new collections, new designs, new mix to attract customers and develop the studded market, but at the same time, gold is also doing extremely well. And, Titan, for the purpose of getting the mix back to 40 percent, will not slow down gold-selling efforts,” he told CNBC-TV18.
Sonthalia’s remark comes a day after Tata Group firm Titan Company Limited posted a 270 percent increase in its consolidated net profit to Rs 641 crore for the second quarter ended September 30, 2021. In the corresponding quarter last year, the company had reported a net profit of Rs 199 crore.
Also Read: Titan Q2 results: Net profit spikes 270% to Rs 641 crore, revenue up 78% to Rs 6,977 crore
Commenting on the market share, he said, the entire jewellery industry has done well but the dispersal of growth could be 20 percent to 60-65 percent and Titan is at the higher end of the growth of the industry. “So, that gives us confidence that we have gained market share from the regional and national layers,” he said.
For the entire management interview, watch the video
(Edited by : Kanishka Sarkar)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM
Celebrity Kangana vs 'royal' Vikramaditya on Himachal's Mandi seat: Clash of richest titans
May 18, 2024 11:11 AM
2024 Lok Sabha Elections | Will Amethi and Rae Bareli see the rise of Priyanka Gandhi as a dominant political figure
May 18, 2024 8:59 AM
Lok Sabha Election 2024: I.N.D.I.A. bloc to hold rally at Mumbai's BKC today
May 17, 2024 5:18 PM