Titan Q2 Profit Rises to Rs 2,393 Crore From Rs 1,120 Crore

Titan reported a consolidated net profit of Rs 2,393 crore for the September 2026 quarter (Q2 FY27), up about 114% from Rs 1,120 crore a year earlier. The Tata Group jewellery and watch maker announced the results on 5 November 2026.

The reported profit includes a Rs 671 crore gain from a fair value change in a put option liability over non-controlling interest. Without that gain, profit was Rs 1,722 crore, up about 54% from Rs 1,120 crore. Total income, which leaves out bullion and digi-gold sales, rose 25% to Rs 20,533 crore.

Titan Q2 FY27 at a glance

Why Titan's reported profit and its adjusted profit differ

Titan's results show a put option liability over non-controlling interest, which means a liability linked to the stake held by minority shareholders in a group company. During the quarter, that liability was re-measured and fell by Rs 671 crore, and the matching gain went into the profit and loss statement.

That is why two profit figures are in circulation. The statutory consolidated profit is Rs 2,393 crore. Excluding the Rs 671 crore gain, profit is Rs 1,722 crore, up about 54% from Rs 1,120 crore.

How Titan's jewellery, watches and eyecare businesses performed

Domestic jewellery income rose 21% to Rs 16,343 crore. Within it, Tanishq, Mia and Zaya together grew 20% to Rs 14,935 crore, and CaratLane grew 31% to Rs 1,408 crore. International jewellery income rose 105% to Rs 1,152 crore. Together these two parts make up the jewellery business, which grew 24% to about Rs 17,495 crore, excluding bullion and digi-gold sales.

Watches grew 27% to Rs 1,881 crore. Eyecare grew 28% to Rs 281 crore.

Titan's own words on the watches business

"The Watches business saw strong outperformance with analog watches growing in the early thirties"

Titan's board approves Rs 2,500 crore debenture plan and Noel Tata's retirement

Titan said its board approved raising up to Rs 2,500 crore through rated, listed, redeemable, unsecured non-convertible debentures on a private placement basis. Titan said a committee of the board will finalise the terms of issue and allotment.

Titan also said in its filing that Noel N. Tata will retire as Vice Chairman and Director on 12 November 2026. He has been associated with the company since August 2003.

Where Titan stands after its September quarter

Titan's total income grew 25% in Q2 FY27 to Rs 20,533 crore, and its profit was Rs 1,722 crore without the Rs 671 crore accounting gain. The board approved a debenture issue of up to Rs 2,500 crore, and Noel Tata's retirement takes effect on 12 November 2026.

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