New Delhi: The company had a net profit at Rs 215.09 crore for the same quarter in the previous year.

Its revenues declined by 1.5% to Rs 2,437 crore for quarter under review as compared to Rs 2,474.43 crore for the quarter ended March 31, 2015.

Titan’s jewellery sales, which contribute nearly 80% of its revenues, were affected by jeweller’s strike in March. Jewellers were on strike for most of March after government announced an excise duty in the Budget 2016.

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Titan’s watches business recorded an income of Rs 1953.55 crore, a growth of 1.7% while the income from eyewear business was Rs 371.58 crore, posing a healthy growth of 11.8%.

Other businesses comprising precision engineering business, accessories and fragrances recorded a sale of Rs 235.17 crore, a growth of 1.3%.