What factors are boosting consumer demand according to Titan MD Ajoy Chawla?

Titan MD Ajoy Chawla cited the online betting ban, GST rationalization, income tax slab relaxations, and increased infrastructure investment as key factors.

How have gold buying habits changed?

Gold buying volume in terms of customers is flat, but grammage has declined by about 9% due to surging prices, mirroring industry trends.

What was Titan's financial performance in the December quarter?

Titan reported a 61% growth in consolidated net profit to ₹1,684 crore and a 40% increase in total income to ₹24,592 crore.

Home / Business and Economy / Titan MD: Ban Boosts Consumer Spending

Titan MD: Ban Boosts Consumer Spending

27 Feb

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Summary

Online betting ban frees up consumer funds, boosting spending.
Gold buying volume flat, but grammage down due to high prices.
Titan reports strong Q4 net profit growth driven by jewellery.

Titan's Managing Director, Ajoy Chawla, has highlighted several factors bolstering consumer demand. These include the recent ban on online betting, which has freed up approximately ₹10,000 crore monthly for consumers, alongside Goods and Services Tax (GST) rationalization and income tax slab relaxations. Increased government infrastructure investment also contributes to this positive economic environment.

Chawla noted a divergence in gold buying trends. While the number of customers purchasing gold remains stable, the actual amount of gold bought, measured in grammage, has decreased by about 9%. This decline is attributed to the significant surge in gold prices over the past six years. The broader industry is experiencing a similar trend, with grammage down by roughly 20%.