Titan reports 33.7% rise in Q2 net profit on higher jewellery demand

BENGALURU (Reuters) – Indian jewellery and watch maker Titan Co Ltd reported a 33.7% rise in second-quarter profit on Friday as demand for gold improved ahead of the festival and wedding seasons.

The company earned a profit of 8.57 billion Indian rupees ($103.95 million) in the three months ended Sept. 30 from 6.41 billion rupees in the previous year.

($1 = 82.4400 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

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