Timex Group hits the floor after Q3 PAT slumps 89% QoQ to Rs 3 cr

On year on year (YoY) basis, the company's consolidated net profit and revenue from operations jumped 64.95% and 25.71%, respectively in Q3 FY26.

Profit before exceptional items and tax surged 3.05 times to Rs 8.01 crore in Q3 FY26, compared with Rs 2.63 crore in Q3 FY25. Exceptional items during the quarter amounted to Rs 3.21 crore and were related to the new labour codes.

The company said that Timex emerged as the fastest-growing brand for the company, recording growth at 32%, Guess and Versace continued their upward trajectory with strong double-digit growth and other brands maintained steady growth during the quarter.

The e-commerce channel reported high double-digit growth, aided by effective assortment planning, aligned with evolving consumer and category trends, along with strong merchandising. The trade channel also delivered solid growth, reflecting continued retailer confidence and steady consumer demand.

Deepak Chhabra, managing director, Timex Group India, said, 'This quarter's performance reflects the consistency of our strategy and execution. The Indian watch industry is witnessing a clear shift towards premium, design-led and lifestyle-driven timepieces, with significant headroom for expansion in a large, underpenetrated market. Through key developments such as the launch of Aston Martin watches in India, continued expansion of our luxury and fashion portfolio, and higher-value collections within Timex, including the Atelier range, we saw positive consumer response during the quarter.'

Timex Group India designs, manufactures, and markets innovative timepieces and is part of Timex Group, a privately held company headquartered in Middlebury, Connecticut, with multiple operating units and over 2,000 employees worldwide. In India, TGIL manages a portfolio of brands including Timex, Versace, Guess, Gc, Philipp Plein, Plein Sport, Ferragamo, Nautica, Ted Baker, adidas, and UCB. It retails via more than 5,000 offline trade stores and key online marketplaces, along with over 40 exclusive franchise stores under the Just Watches and Timex World banners.

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