Mumbai: Tata Group company Titan's Tanishq jewellery sales reports 15.4% increase in sales in its jewellery business during Q3 2017, with income rising to $489.27 million this year as compared to $ 423.92 million last year. Profits before tax from the segment rose 15.1% during the quarter, from $43.63 last year to $50.247 last year.
For the nine-month ended December 2016, the jewellery business recorded a growth of 7.5% growing from $1033.57 in the comparative period of 2015 to $1111.285 last year.
Bhaskar Bhat, Managing Director of the company stated that “The third quarter was an extremely encouraging quarter for the Company. Despite initial headwinds on account of demonetization, the Company clocked a growth. The festival season was very good for both our jewellery and watches business. Our effort continues therefore to be one of generating demand, through new product introductions and network expansion while retaining our focus on cost control.”
