UPDATE 1-Carpenter Technology Q2 profit beats Street

Jan 26 (Reuters) - Titanium alloys maker Carpenter Technology's second-quarter profit beat analysts' estimates, helped by higher sales of its special alloys, titanium and powder metals.

The company said sales in the aerospace & defense market rose 25 percent as demand for titanium rose.

Titanium is used for fasteners in aircraft. About two-thirds of all titanium produced in the world is used in aircraft engines.

Net profit rose to $23.6 million, or 52 cents a share, from $9.3 million, or 21 cents a share, a year ago.

Excluding items, the company earned 57 cents a share.

Revenue rose 15 percent to $431.1 million.

Analysts on average had expected the company to earn 51 cents a share, on revenue of $434.9 million, according to Thomson Reuters I/B/E/S. (Reporting by Vaishnavi Bala in Bangalore; Editing by Don Sebastian) ((vaishnavi.bala@thomsonreuters.com within U.S. +1 646 223 8780 outside U.S. +91 80 4135 5800 Reuters Messaging:vaishnavi.bala.reuters.com@reuters.net)