Indian luxury goods retailer Titan Company Ltd reported a 13% rise in consolidated net profit for the quarter ended March 31, 2025, driven by resilient demand for premium jewellery and gold coins despite a surge in bullion prices.

The Tata Group-backed firm posted a net profit of Rs. 8.71 billion ($101.97 million), up from Rs. 7.71 billion a year earlier.

Gold prices climbed nearly 17% during the quarter, with 10 grams of 24-carat gold crossing Rs.90,000 ($1,062.39). Despite record highs, affluent customers continued to invest in high-end jewellery and bullion, helping Titan’s flagship jewellery division — which includes the Tanishq and Mia brands — register a 25% year-on-year sales increase.

Sales of gold coins, part of Titan's jewellery portfolio, surged 64% as more consumers turned to bullion as a safe-haven asset amid volatile markets.

However, the company’s profit margins edged down to 11.9% from 12.1% a year ago, impacted by the lower profitability of gold coins. In February, Titan CFO Ashok Sonthalia had flagged that rising gold prices might challenge the company's fiscal 2026 margin target of 11% to 11.5%.

Titan’s watches segment, its second-largest revenue contributor, also posted strong growth, with revenue up 20% to Rs.12.16 billion. The company attributed the rise to increased demand for its premium Raga, Sonata, and Fastrack collections.

In a leadership update, Titan announced that Managing Director and CEO C.K. Venkataraman will retire by the end of 2025. He will be succeeded by Ajoy Chawla, who currently heads the jewellery division.