Feb 10 (Reuters) - Indian jeweller and watchmaker Titan (TITN.NS) , opens new tab reported a 61% jump in third-quarter profit on Tuesday, buoyed by higher average selling prices for gold jewellery and strong demand during the festive season.

Titan, known for its Tanishq and CaratLane jewellery brands, said profit rose to 16.84 billion rupees ($186.04 million) for the quarter ended December 31, from 10.47 billion rupees a year ago.

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India's festive season usually runs from October to December and is considered an auspicious time for big-ticket purchases such as jewellery.

Spot gold prices rose nearly 12% during the quarter, closing a calendar year in which the precious metal clocked its steepest rise since 1979, driven by geopolitical uncertainties, rate cuts and robust central bank buying.

Titan's mainstay jewellery business, which accounts for over 90% of its revenue, grew 41% year-on-year during the quarter, the company said in a business update in January. That helped total revenue from the sale of products rise nearly 42% to 249.15 billion rupees.

The company's net profit margin improved to 6.63% from 5.9% a year earlier.

Revenue from Titan's watches business, its second-largest division, grew 14%, aided by sustained demand for premium timepieces.

"The festive period spurred broad-based consumer interest across our portfolios, underscoring resilience in premium and accessible segments alike," Managing Director Ajoy Chawla said in a statement.

Shares of the company closed nearly 1% higher ahead of the results.

($1 = 90.5180 Indian rupees)

https://www.reuters.com/world/india/indias-titan-posts-quarterly-profit-jump-high-gold-prices-2026-02-10/