This marks a significant acceleration from the 9.3% growth reported in the same quarter last year.

The company’s jewellery division, which contributes nearly 90% to its overall revenue, grew by 18% in Q1. Titan attributed the performance to higher gold prices and strong consumer demand across its major jewellery brands including Tanishq, Mia, and Zoya. Like-to-like domestic sales saw a low double-digit percentage increase across these brands.

Gold prices have surged over the past two quarters amid heightened geopolitical tensions and uncertain global trade dynamics, prompting investors to seek safe-haven assets. Spot gold gained 5.5% in the quarter ending June 30, which further supported Titan’s sales momentum.

The company’s watches and wearables business, its second-largest segment by revenue, posted a 23% year-on-year growth. This was fuelled by a combination of higher pricing and increased volume sales.

Titan’s stock was trading at Rs.3,372.10 on the BSE at 2:39 PM on July 11, down 1.39% from the previous session. The stock has ranged between Rs.2,925.00 and ?3,867.00 over the past 52 weeks.

The company is expected to provide further insights into its financial performance when it announces full quarterly results later this month.