As of date, CaratLane is a subsidiary of Titan wherein it holds a 99.64% stake. The completion of the aforesaid share purchase would result in CaratLane becoming a wholly-owned subsidiary of the company.
Titan Company: Titan added a total of 90 stores during the quarter, taking the group s total presence to 2,949 stores. At the end of the September quarter, Titan had 2,859 stores.
Titan added a total of 90 stores during the quarter, taking the group s total presence to 2,949 stores. At the end of the September quarter, Titan had 2,859 stores.
Revenue from operations grew by 34% YoY to Rs 11,660 crore, and was also above the estimated Rs 10,375 crore. The operating profit, calculated as earnings before interest and taxes or EBIT, rose 13% YoY to Rs 1,367 crore. EBIT margin, however, contracted by 87 basis points to 13.6%.