Titan Company reported a healthy 43.5 percent on-year growth in third quarter consolidated profit, driven by revenue growth and strong jewelry business during festive season. S Subramaniam, CFO of the company, spoke to CNBC-TV18 about the comapny's financial performance.

"January has been relatively muted because the jewelry industry is struggling to grow.Therefore, in the context of that, what we are doing is quite remarkable and these are market share gains which are happening due to various things. Of course the formalization of the economy etc. help companies like us more than others but a lot of things that we have done over the last few years are resulting in this growth. So yes, we will grow but I do not believe we can grow at this rate" said Subramaniam.

According to Subramaniam, focus on wedding jewellery, high value studded jewellery aided revenue in Q3.

"Therefore, we maintain jewellery business growth guidance at 22 percent in FY19," he added.

Talking about the watch business, Subramaniam said, “On annual basis we believe we should be close to 15 percent EBIT margin.”

On eyewear business front, he said, “It’s still in investment phase and that’s one thing we called out strongly at the beginning of the year.”