The businesses like eyecare in the last few months have really picked up and we are very bullish on those as well. Taneira continues to do well, international business is doing well. So, from a growth side, everything is really doing well and we just need to execute to generate the profit growth. We are all committed to that and we will know when the results actually come out, of course.
“In the significant per-capita income shift thats expected to happen in the next few years, the top-tier income segment numbers are expected to grow faster than those income segments which are lower,” said Venkataraman, winner of the ET Business Leader of the Year award.
Titan reported a 9% YoY growth in standalone net profit at Rs 1,040 crore in Q3. Revenue from operations increased by 20% YoY to Rs 13,052 crore. EBIT for the quarter grew 11% YoY to Rs 1,478 crore. EBIT margins declined 116 basis points to 11.3%. Total income from the jewellery business rose 23% to Rs 11,709 crore.
The power-packed jury headed by Tata Sons chairman N Chandrasekaran picked external affairs minister S Jaishankar as Reformer of the Year for his stellar efforts in defending and furthering Indias economic and trade interests amid a geopolitical minefield.
Soon after Venkataraman succeeded Bhaskar Bhat as Titan boss, Covid-19 struck. All businesses had to be rewired for employees, distributors, franchises and retail partners. Venkataraman s corner-office role came with a formidable set of challenges. "The year 2019-20 was a challenging one," Titan said in its annual report for that year. "Slowdown in the growth of Indian economy, significant rise in gold prices and the onset of the Covid-19 pandemic and consequent lockdown in the month of March 2020 impacted the overall growth of the company."