Titan shines in Q2 Results 2026; Net profit doubles to ₹2,393 crore, aided by one-time gain; jewellery business up 24%
A Ksheerasagar
Titan, the Tata Group's jewellery-to-eyewear company, announced its September-quarter performance today, reporting a 113% year-on-year (YoY) jump in consolidated net profit to ₹2,393 crore, boosted by a one-time gain and resilient demand for higher-margin diamond-studded jewellery. The watches segment also remained a key growth driver.
In the corresponding quarter last year, the company had reported a net profit of ₹1,054 crore. On a sequential basis, net profit also improved from ₹1,777 crore reported in the June quarter.
Excluding a one-time gain of ₹671 crore from the revaluation of a financial liability, profit rose 54% YoY to ₹1,722 crore.
On the top line, the company reported consolidated revenue from operations of ₹20,533 crore during the quarter, registering a 25% YoY increase from ₹16,407 crore in the corresponding quarter last year.
The jewellery segment, which accounts for over 80% of the company's revenue, recorded 24% YoY growth to ₹17,495 crore (excluding bullion and digital gold sales). However, growth moderated from 39% in the preceding quarter, as the later timing of key festivals pushed some purchases into the December quarter.
Sales of higher-margin studded jewellery grew more than 30%, while lower-margin gold coin sales declined, resulting in a more favourable product mix that analysts expected to support jewellery margins.
Tanishq, Mia and Zoya together recorded 20% growth to ₹14,935 crore, while CaratLane posted a strong 31% increase to ₹1,408 crore during the same period. The India business clocked an EBIT of ₹2,281 crore at a margin of 14%.
The international jewellery business delivered even stronger growth, with revenue rising 105% YoY to ₹1,152 crore. The overall jewellery portfolio recorded an EBIT of ₹2,300 crore for the quarter at a margin of 13%.
The watches business achieved total income of approximately ₹1,881 crore for the quarter, registering 27% growth over Q2 FY26. It also reported an EBIT of approximately ₹412 crore at a margin of 21.9%.
The eyewear business accelerated its growth momentum during the quarter through focused execution and continued premiumisation across its product portfolio. The segment achieved total income of approximately ₹281 crore in Q2 FY27, growing 28% over Q2 FY26, and recorded an EBIT of approximately ₹23 crore at a margin of 8.2%.
The Tata Group stock remained higher in 2026, even as market volatility weighed on its performance. However, it showed resilience, recovering all its losses following a correction. The shares have gained 21% in 2026, building on a 24% jump in 2025.
Over the last 10 years, the stock has delivered negative returns only in 2024. During this period, its share price has surged from ₹326 to ₹4,834, translating into a massive gain of 1,382%.
A Ksheerasagar
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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HomeMarketsStock MarketsTitan shines in Q2 Results 2026; Net profit doubles to ₹2,393 crore, aided by one-time gain; jewellery business up 24%
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