Indian jeweller and watchmaker Titan reported a smaller-than-expected second-quarter profit on Tuesday, hurt by weak demand in its studded jewellery business. The Tata group company posted a consolidated profit of 7.

Leading jewellery and watchmaker Titan on Tuesday reported a 23 per cent decline in its consolidated net profit to Rs 704 crore for the second quarter ended on September 2024. The company posted a net profit of Rs 916 crore in the July-September quarter a year ago,

India's Titan reported a 23% fall in second-quarter profit on Tuesday, as a cut in customs duty on gold imports led to inventory losses and shrank margins. The Tata group company posted a consolidated profit after tax of 7.

Union Finance Minister Nirmala Sitharaman proposed a decrease in Customs duty on gold from 15% to 6% in the Union Budget 2024.