Net profits for Titan Industries during the third fiscal quarter ending December 31, 2008 were down by 62 percent to $2.4 million. The company’s portfolio mainly includes manufacture of watches and jewellery, apart from other luxury wear. The company stated that its profits derived from operations before other income, interest and taxes, scaled up by 20 percent to INR 514.5 million ($10.5 million), owing to a 119 percent increase in profits of its jewellery division, which amounted to $10.4 million. %% But unlike its jewellery section, its watches division saw declining profits by 29 percent to $2.9 million. The company’s other portfolios of eyewear, precision engineering, machine building and clocks, also faced losses during the said period. %% The sales data in the said quarter saw group sales increasing by 27 percent to $211.9 million, of which, jewellery sales amounted to $161.5 million (rising by 33 percent), and watch amounted to $39.5 million ( rising by 4 percent). During the first nine months ending December 31, net profits of the company increased by 46 percent to $26.8 million and sales by 34 percent to $605.8 million.