Consumer discretionary major Titan Ltd on Friday reported 63% year-on-year (YoY) growth in its consolidated net profit at Rs 1,777 crore in the first quarter, compared with Rs 1,091 crore in the last year quarter. Total income in the reporting period rose 40% YoY to Rs 20,753 crore.Titan said profit before tax grew 37% on an adjusted basis after excluding the impact of customs duty gains in gold during the quarter. The reported consolidated numbers included customs duty gains of Rs 407 crore.Jewellery business leads growthTitan’s jewellery business remained the main growth driver. Revenue from the jewellery portfolio rose 43% YoY to Rs 18,253 crore, excluding bullion and digi-gold sales. The company said demand was supported by festive purchases, Akshaya Tritiya sales and its exchange programmes. It also cited a relatively stable gold price environment during the quarter.The India jewellery business grew 38% to Rs 16,943 crore. Tanishq, Mia and Zoya together grew 38% to Rs 15,502 crore, while CaratLane rose 40% to Rs 1,441 crore.The international jewellery business grew 136% to Rs 1,309 crore, helped by strong traction for Tanishq in North America and double-digit growth in the GCC. Damas, which was acquired earlier, reported revenue of Rs 396 crore during the quarter.Jewellery EBIT stood at Rs 2,360 crore, with a margin of 12.9%. The India jewellery business reported EBIT of Rs 2,368 crore at a margin of 14%. Adjusted for customs duty gains, India jewellery EBIT stood at Rs 1,961 crore, with a margin of 11.6%.Titan added 33 jewellery stores on a net basis in India during the quarter. This included four Tanishq stores, 17 Mia stores, one beYon store and 11 CaratLane stores. Tanishq also opened two stores in the GCC region.Watches and EyeCare businessThe watches business grew 21% YoY to Rs 1,543 crore, led by premiumisation and demand for analog watches. The company said analog watches recorded mid-twenties growth, while smartwatches declined in single digits. Watches EBIT stood at Rs 295 crore, with a margin of 19.1%. Titan added 34 net stores in the watches division during the quarter, including stores under Titan World, Fastrack, Helios and Helios Luxe.EyeCare revenue rose 21% to Rs 289 crore. EBIT stood at Rs 24 crore, with a margin of 8.3%. The company said growth was helped by demand across the product portfolio and a shift toward premium offerings.Emerging businessesEmerging businesses, which include SKINN fragrances, IRTH women’s bags and Taneira, grew 18% to Rs 128 crore, but reported a loss of Rs 39 crore. Titan Engineering and Automation grew 43% to Rs 438 crore and posted EBIT of Rs 143 crore.Ajoy Chawla, managing director of Titan, said Q1 was a strong opening quarter. "The broad-based performance notwithstanding, the quarter demanded significant agility on multiple fronts from navigating gold prices to the sharp changes in the duty structure and to managing geopolitical headwinds across our international operations," Chawla said.