Gold stock which one of the leading pan-India jewellery retailer offering an extensive range of jewellery including gold, diamond, silver, platinum and many more jumped 10 percent in the day’s trade upon posting a 85 percent jump in Net Profits in Q1FY25.
Price Action
With a market capitalization of Rs. 8,612 Crores, the shares of Senco Gold Limited were trading at Rs. 1,101.30 per equity share, up 6 percent from its previous day’s close price of Rs. 1,036.30
About the Company
Senco Gold Limited is one of the leading pan-India jewellery retailer with over 164 showrooms is engaged in offering an extensive range of jewellery, including gold, diamond, silver, platinum, as well as precious and semi-precious stones.
Q1FY25 Results
Its Revenue from operations grew by 7.53 percent YoY from Rs. 1305.4 Crores in Q1FY24 to Rs. 1403.8 Crores in Q1FY25 and it grew by 24 percent QoQ from Rs. 1137.28 Crores in Q4FY24 to Rs. 1403.8 Crores in Q1FY25.
Its Net Profit grew by 85 percent YoY from Rs. 27.66 Crores in Q1FY24 to Rs. 51.27 Crores in Q1FY25 and grew by 59 percent QoQ from Rs. 32.17 Crores in Q4FY24 to Rs. 51.27 Crores in Q1FY25. Its Net Profit Margin increased from 2.10 percent in Q1FY24 to 3.62 percent in Q1FY25.
Speaking on the performance, Mr. Suvankar Sen, Managing Director & CEO, Senco Gold Ltd, commented.
“We are pleased to announce our Q1 FY25 results. In line with our growth strategy, we expanded our showroom portfolio to 165, adding 6 new showrooms in Q1. We achieved YoY sales growth of 7.54 percent including digital, e-commerce, corporate and exports. Retail sales growth YoY was higher at 9.6 percentt and same store sales growth was at 4 percent.
“In line with our commitment for ESG, our sale percent from recycled gold (old gold from customer) also increased from 32 percent to 35 percent and about 43,000 customers enjoyed the benefit of this offer during Q1.
We are preparing for the upcoming festive season in Q2 & H2, including Rakshabandhan, Independence Day, Teej, Durga Puja, Navratri, Dhanteras/Diwali, and most importantly the wedding seasona and We have also launched Lab Grown diamond under Sennes Brand which reflect our commitment to green earth while this is clearly a margin accretive segment.
We continue to delight our customers with innovative and new designs and have launched over 8000+ new designs during Q1 FY25. We have good pipeline of new showroom to be launched under COCO & FOFO model during rest of the year in line with our growth strategy.”
Written by: Bharath K.S
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