Titan reported a rebound in jewellery demand despite high gold prices, with a positive business outlook over the past four months, managing director Ajoy Chawla said on Friday. Demand had slowed briefly towards the end of July as consumers waited for prices to stabilize but picked up again in the last few days, according to livemint.com.
Chawla shared these updates during Titan's post-results analyst call, noting a temporary dip in demand for plain gold jewellery in late July. He highlighted that the slowdown lasted only a short period, with demand recovering quickly. The company had also faced a three-week impact in May after the government raised customs duty on gold, which affected consumer buying patterns earlier in the year.
The rebound in demand comes amid a challenging market environment with elevated gold prices and increased import duties. Titan's ability to sustain positive sales contrasts with earlier disruptions and reflects resilience in consumer interest. The customs duty hike in May had previously pressured demand, but recent trends suggest consumers are adapting to the new price levels, supporting the jewellery segment's recovery.
Titan's next quarterly earnings report, scheduled for later this year, will provide further clarity on how sustained the demand recovery is and how the company navigates ongoing price volatility in the gold market, according to livemint.com.