Titan Industries - Watch and jewelry manufacturer reported a 30% increase in sales to $322.4 million during its fiscal year 2005-2006, according to figures released by the company on June 6, 2006. Profit after taxes nearly tripled to $16 million. The company’s jewelry sales, sold under the brand Tanishq, rose 48 % to $172.2 million while the watch segment climbed 15% to a sales income of $142.6 million. %%During the company’s fourth quarter ending March 31, 2006, sales grew 31% to $94.4 million and profit jumped 153% to $8.1 million. “While the jewelry division has overtaken the watch segment in terms of sales turnover, the time products division continues to be the main contributor to the profits of the company,” said the company in its release.%%Titan added that both Titan and Tanishq grew at faster rates than in the previous year, and the initiatives with a focus on youth through Fastrack as well as on the mass market with Sonata have been successful. The company’s brand building and advertising spending reached $22 million in 2005-06, an increase of 31%.