Titan said it reported strong revenue growth of 60% for the fourth quarter overall on a reduced basis in March 2020 as the impact of the epidemic on consumer sentiment seemed to fade in the early part of Q4.
Revenue grew more than 36% compared to the months of January and February, Titan said in a regulatory filing on Wednesday.
According to the company, the wedding jewelery segment was a growth driver in the fiscal and significantly increased its share in overall jewelery revenue over the previous year. Tanishq’s efforts to increase its market share have yielded good results. For example, Tanishq saw strong growth in Tamil Nadu, which has traditionally been a hub for regional jewelers.
In May last year, Titan’s senior employees cut salaries to help tide the company out in an uncertain environment caused by the epidemic. “In view of the better-than-anticipated recovery, the company has fully reinstated the cash component of the pay cut with retrospective effect,” he said. ”
Titan said in the filing that the financial year is a result of agility with performance crises and uncertainty of the ground situation and uncertainty of the ground situation, as well as the introduction of digital channels to reach customers.
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