The total income rose to Rs 120.35 crore in the third quarter of the current financial year (Q3FY25)
Driven by premium products, expansion of distribution channels and strong traction in the luxury and fashion segment, Timex Group India or TGIL, a player in the watch industry has recorded 27.2 per cent year-on-year growth in its total income during the third quarter of the current financial year (Q3FY25). The total income rose to Rs 120.35 crore in Q3FY25, compared to Rs 94.55 crore in Q3FY24.
The unaudited financial results of the company showed that the net profit stood at Rs 1.94 crore during the quarter, an improvement from Rs 1.49 crore net loss during the corresponding period of the previous fiscal. The earnings before interest, tax, depreciation and amortisation (EBITDA) was reported at Rs 4.6 crore, while profit before tax was at Rs 2.6 crore during the quarter.
As far as performance across channels is concerned, traditional trade taking the main stage as the largest sales contributor with a growth of 30 per cent. The company stated that ecommerce maintained the growth momentum this quarter, while the defence sector demonstrated progress as well.
“We are excited to share yet another successful quarter performance, which is a result of our continuous focus on delivering exceptional craftsmanship and tapping into emerging market opportunities in the premium segment. The outstanding performances of our flagship Timex brand coupled with fashion and luxury segments, inspire us to keep innovating and expanding our reach to meet India’s growing appetite for premium timepieces,” stated Deepak Chhabra, Managing Director, Timex Group India.
The company’s statement added that Timex maintained the growth momentum with a 22 per cent increase. Luxury brand Versace saw a growth of 37 per cent. Guess grew by 29 per cent, added the company.
