The shares of the largest organized jewelry retail player in East India, plunged 19 percent intraday after the company announced a 69 percent decrease in its net profits in Q3 FY25.
Price Action
With a market capitalization of Rs 5,938.86 crore, Senco Gold Ltd plunged 19 percent in Friday’s trading session and made an intraday low of Rs 361.10 per share compared to its previous closing price of Rs 446.95 per share.
The shares retraced from the day’s low and were trading at Rs 365.85 which is 18 percent lower than the previous closing price.
What Happened
The shares of Senco Gold Ltd fell after the company reported its Q3FY24-25 results. Its total income increased by 27 percent from Rs 1,661 crore to Rs 2,115.2 crore in Q3FY25. On a quarter-on-quarter basis, the income rose by 39.5 percent from Rs 1,515.4 crore.
However, the net profits fell around 69 percent percent year on year from Rs 109.3 crore to Rs 33.5 crore in Q3FY25. On a quarter-on-quarter basis, the company’s net profits grew by 176 percent from Rs 12 crore.
Further, the company’s EPS decreased by 70 percent year on year from Rs 7.3 to Rs 2.13. On a quarterly basis however, the EPS rose by 173 percent from Rs 0.78.
Company Overview
Senco Gold Limited, a pan-India jewellery retailer, has been the country’s second largest trusted and desired brand for the past four years. The company operates under powerful brand names such as Everlite, Gossip, Aham and Sennes among others. It is also a leading organised jewellery player in the eastern region of the country.
Senco has two factories near Kolkata, West Bengal, manufacturing light weight jewellery comprising over 1.7 lakh gold designs and 98.4 thousand diamond designs. With the meticulous craftsmanship of over 170 karigars (craftsmen), the company also has an international presence through a showroom in Dubai.
Written by Shwetha Sairam
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