Titan Company Limited reported a 114% jump in second-quarter profit after tax to ₹2,393 crore for Q2 FY27, with a fair-value credit accounting for part of the increase as its jewelry business expanded. The quarter ended Sept. 30, 2026.
That total was up from ₹1,120 crore in Q2 FY26. Excluding the credit, Titan's results presentation showed profit of ₹1,722 crore, a 54% year-over-year increase. The filing says the ₹671 crore gain followed a remeasurement that lowered a liability associated with minority shareholders' put options. Titan's call option and minority shareholders' put option cover the remaining 33% interest; the put can be exercised Dec. 31, 2029.
Reported revenue from operations rose 10.1% to ₹20,614 crore. Total income, including the gain, was ₹21,430 crore, compared with ₹18,837 crore a year earlier. Titan's presentation separately showed total income of ₹20,533 crore, up 25%, on a measure excluding bullion and digital-gold sales and the accounting credit. That is a separate measure from reported revenue from operations.
The jewelry portfolio, excluding bullion and digital-gold sales, grew 24% to ₹17,495 crore. India's jewelry business rose 21% to ₹16,343 crore, while international jewelry increased 105% to ₹1,152 crore. Titan attributed the gains to consumer preference for design jewelry, which lifted studded-jewelry growth into the early 30% range and increased average ticket sizes. The company said the festive calendar shifted into Q3 FY27.
Watches income increased 27% to about ₹1,881 crore, and EyeCare income rose 28% to about ₹281 crore. Titan said profit before tax was ₹2,329 crore, including ₹536 crore in customs-duty gains. Adjusted for the impact of the gold customs-duty increase, profit before tax was ₹1,793 crore, up 18% year over year. Managing Director Ajoy Chawla said the company recorded roughly 25% growth in consolidated operations over the year-earlier quarter.
The results followed Titan's Oct. 6 provisional update, which reported about 25% year-over-year growth in consumer businesses during Q2 FY27. The board approved the unaudited results Thursday, Nov. 5, and B S R & Co. LLP issued an unmodified limited-review conclusion.
