The shares of the company showed a record on the green side of the trading. The shares of the company moved up after the announcement made by the company regarding the strong business movement.
As per the records, the overall growth witnessed by the company in the fourth quarter marked 60 percent. The growth in its revenue for January and February month was 36 percent.
Additionally, the growth was a result of a gold coin business to business order. This contributed about 8 percent of the total growth.
Also, the international operations performed better than expectations. The retail average transactions value also did well. The international division plans to establish an additional store in GCC.
In addition, the jewelry division of the company experienced high sales in the fourth quarter of the year. The company also got the benefit of gains on its shares.
Caratlane, a subsidiary of Titan jewelry recorded a growth of 60 percent in the quarter with future growth expectations. The subsidiary performed well even in the tough time in the market with 26 percent growth in B2B.
As per the report, the company maintained its pace after the festive season as well. The company managed to raise shares from other players in the market.
Furthermore, the jewelry section of the company will tend to grow in the coming future with the low gold price. Though, the risk of lockdown may impact the performance negatively.
Besides, the watch division might take more time to regain its pace than the jewelry. The choice among the customer diverted due to pandemic and work from home culture.
In addition, the company will expect an overall growth of 60 percent in the fourth quarter of FY21.
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