Senco Gold Q4 net profit jumps 94 percent to Rs 62 crore
Jewellery retailer Senco Gold Ltd reported a 94 percent increase in consolidated net profit to Rs 62 crore ($7.3 million) for the fourth quarter ended March 31, as against Rs 32 crore in the corresponding period a year ago.
The company's revenue for the quarter stood at Rs 1,378 crore, as against Rs 1,137 crore in the corresponding quarter of the previous fiscal year.
For the full financial year, the company's revenue from operations stood at Rs 6,328 crore while net profit was Rs 159 crore.
Commenting on the results, Suvankar Sen, managing director CEO in a statement said, ''We witnessed strong festive and wedding season demand along with improved traction in studded and diamond jewellery. Our focus on digital, franchisee-led expansion, and customer-centric innovation continues to yield results.'
'The strong wedding & valentine (season) has given a boost to Q4 business, witnessing more footfalls and improvement in sales by 21 percent. Diamond jewellery grew by 38 percent,' he added.
Senco Gold and Diamonds opened a total of 15 showrooms during the full fiscal year. The brand now counts 175 retail outlets across India.
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