Timex India’s Q3 net loss down 78 percent to Rs 1 crore

Timex Group India Ltd’s narrowed its net loss by 78 percent to Rs 1 crore ($1,20,391) for the third quarter ended December 2023, as against Rs 7 crore in the year-ago period.

The company’s revenue for the quarter rose by 12 percent to Rs 95 crore, as against Rs 85 crore reported in the corresponding period of the previous fiscal year.

Commenting on the results, Deepak Chhabra, managing director of Timex India in a statement said, “Our continued upward graph in growth and improvement in bottom-line is a result of our strategic business decisions and our commitment towards consistently evolving and offering the best to our consumers and business partners.”

“Our Q3 witnessed developments that happened at an opportune time and, we saw greater returns in tandem, be it our brand campaigns, our expansion plans, or our overall trade channel contribution. We are thankful to all those who have worked towards this success, and we will strive to reach higher milestones in the coming future,” he added.

Timex Group India Ltd (TGIL) retails via 5000 offline trade stores and key online portals and marketplaces. It currently operates over 35 exclusive franchised stores under the brand name Timex World.