Tata group firm Titan Industries today reported 72.35 per cent jump in its consolidated net profit for 2010-11 at Rs 433.12 crore on account of robust performances by all business verticals. The company had posted a net profit of Rs 251.30 crore in the previous fiscal,Titan Industries said in a filing to the Bombay Stock Exchange (BSE). The consolidated net sales during last fiscal stood at Rs 6,532.97 crore as against Rs 4,677.16 crore in 2009-10,up 39.68 per cent,it added. On a standalone basis,the company's net profit in FY'11 increased by 71.95 per cent to Rs 430.42 crore from Rs 250.32 crore. The net sales rose by 42.55 per cent to Rs 6,520.89 crore from Rs 4,574.42 crore in FY'10. The company's board recommended a dividend of 250 per cent,which is Rs 25 per equity share on the face value of Rs 10 each. It also announced issue of one bonus share for every existing one equity share. Besides,the company has decided to split each share of the face value of Rs 10 into 10 equity shares of a face value of Re 1 each. Commenting on the performance,Titan Managing Director Bhaskar Bhat said: "The company has moved on to a new platform of performance as well as future expectations. "Given the high expectations of all our stakeholders and aspirations of our employees,we move confidently into the new financial year",he said. The watch business recorded a growth of 23.3 per cent at Rs 1,266.46 crore while the income from the jewellery division increased by 43.5 per cent to Rs 5,027.23 crore. "The dynamism of Indian economy and positive consumer sentiment is reflected in consistent double digit sales growth,month after month across all retail formats of watches,jewellery and eyewear," the company said. During the last fiscal,the company added 122 outlets across all divisions in the country. The firm currently has over 665 stores. Meanwhile,the board appointed Das Narayan Das as an Independent Director of the Company effective from today. The shares of the company today closed 2 per cent down at Rs 4,035.05 a piece on the BSE.
