Latest news with #SuvankarSen
Fashion Network
4 days ago
- Business
- Fashion Network
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.
Business Standard
30-05-2025
- Business
- Business Standard
Senco Gold gains after Q4 PAT nearly doubles to Rs 94 crore; EBITDA margin at 9.2%
Senco Gold rose 2.11% to Rs 388.85 after the company's net profit increased by 94.1% to Rs 62.44 crore as revenue from operations rose by 21.1% to Rs 1,377.71 crore in Q4 March 2025 over Q4 March 2024. Profit before tax (PBT) stood at Rs 85.08 crore in Q4 FY25, up by 62.4% from Rs 52.38 crore recorded in Q4 FY24. For the fourth quarter, EBITDA came in at Rs 127.01 crore (up by 44.8%) while EBITDA margin was at 9.2% (up 150 basis points YoY). Total operating expenses rose by 19.2% to Rs 1,250.69 crore in Q4 FY25 as compared with Q4 FY24. During the quarter, cost of materials consumed stood at Rs 1,146.46 crore (up 21.6% YoY) while employee benefits expense was at Rs 35.65 crore (up 27.1% YoY). For the full year FY25, revenue from operations rose by 20.7% to Rs 6,328.07 crore, while net profit fell by 12% to Rs 159.31 crore. Suvankar Sen, MD & CEO, said: Senco Gold Ltd. recorded a Standalone total income of Rs 6,313.4 Cr on a growth of 19.7% in FY25 as compared to FY24. The Q425 vs Q424 growth was 20.5%, and SSSG growth accounted for 18%. The company has seen 21% volume growth and 38% in value of diamond jewellery in Q4, which has led to an increase in profit. The adjusted PAT increased by 10.1% to Rs 207.9 Cr. The impact on PAT is due to a one-time customs duty cut in July 2024. In our retail segment, our company-owned showrooms, with a 64% revenue contribution to the overall retail business, have registered a growth of 21% and franchisee business, which contributes to 36% of the retail business, has grown by 28% in Q4 over the last year. Q4 saw a strong studded growth, of over 38% in revenue and of over 2% growth in volume. In Q4, 5 new showrooms were opened (2COCO, 2FOCO and 1FOFO model). In this period, the overall SSSG was 18%. The sharp increase in gold prices during Q4 led to an increase in old gold jewellery exchanges, with old gold contributing nearly 40% to overall sales, out of which 61% is coming from the Non-Senco customers in FY25. Senco Gold is a leading pan-India jewellery retailer. It offers an extensive range of jewellery, including gold, diamond, Polki, Platinum, Kundan, Jadau, silver, as well as precious and semi-precious stones.
Time of India
29-04-2025
- Business
- Time of India
Akshaya Tritiya 2025 offers: From Tanishq to PC Jeweller, check out the top discounts offered by retailers amid high gold prices
Tanishq's gold jewellery offers Senco Gold's discounts on gold and diamond jewellery MP Jewellers and PC Chandra Jewellers' festive offers Focus on customer experience Live Events Retailers adjusting to rising gold prices Akshaya Tritiya 2025: Date, time, and significance Why Akshaya Tritiya celebrated? (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel As Akshaya Tritiya approaches, jewellery retailers are offering a variety of discounts despite rising gold prices to attract customers. This year, leading brands such as Tanishq, Senco Gold , MP Jewellers, and PC Chandra Jewellers are all set to make the most of the auspicious buying one of India's leading jewellery brands, is offering up to 20 per cent off on making charges for gold jewellery. This discount is part of the brand's effort to entice customers looking to purchase gold ahead of the festive Gold has introduced a flat Rs 350 discount on gold rates. The company is also offering up to 30 per cent off on making charges for gold jewellery. For diamond jewellery, Senco Gold is giving an attractive 100 per cent discount on making charges, along with up to 15 per cent off on the value of the Jewellers is offering Rs 300 per gram off on gold jewellery, coupled with a 10 per cent reduction in making charges. Similarly, PC Chandra Jewellers is providing a Rs 200 per gram discount on gold prices, 15 per cent off on making charges, and a 10 per cent discount on the value of diamond jewellery offers are designed to make the shopping experience more attractive for customers. Annargha Uuttiya Chowdhury, Director of Anjali Jewellers, explained, "We are expecting Akshaya Tritiya to be very good as consumer confidence in gold is at an all-time high. To cash in on the gold craze, we are offering discounts on making charges to ensure the shopping experience is more exciting for customers."Jewellery brands are also adjusting to the rise in gold prices by offering innovative solutions. Senco Gold's Managing Director, Suvankar Sen, mentioned that although volumes have decreased due to higher gold prices, the brand is committed to maintaining affordability. "We are trying to reduce the 25-30 per cent cost of marriage ornaments by incorporating pearls and stones to lower gold usage in sets," Sen Tritiya, also known as Akha Teej, will be observed on Wednesday, April 30, 2025. This festival is widely celebrated with prayers and the purchase of gold. According to Drik Panchang, the most auspicious time for performing puja is from 5:41 AM to 12:18 PM on April 30. The best time to buy gold, however, begins the evening before at 5:31 PM on April 29 and continues until 2:12 PM the next Tritiya is regarded as one of the most sacred days of the year in the Hindu calendar. Many believe that any positive action or investment made on this day brings lasting prosperity, and buying gold has become a key tradition to reflect wealth and Muhurat: 5:41 AM to 12:18 PMTritiya Tithi Begins: 5:31 PM, April 29Tritiya Tithi Ends: 2:12 PM, April 30According to Hindu mythology, Lord Krishna once visited the Pandavas during their exile. Draupadi, feeling unprepared, asked for forgiveness. Krishna picked a single herb from their food bowl and, pleased with her devotion, gave the Pandavas the Akshaya Patra—a bowl that never ran out of food. Another story says Lord Kubera was appointed guardian of heaven's wealth on this day after receiving blessings from Lord Shiva and Lord Tritiya is considered significant for both spiritual and financial reasons. In Hindu and Jain traditions, it is a day that ensures lasting success when actions are taken with sincerity. The practice of buying gold is seen as a symbol of hope for continued growth and stability, both spiritually and materially.
News18
23-04-2025
- Business
- News18
Planning To Buy 24K Gold This Akshaya Tritiya? Know The 999 Vs 995 Purity Difference
Last Updated: Akshaya Tritiya, an auspicious occasion for buying gold in India, is considered a symbol of prosperity and good fortune Akshaya Tritiya 2025: Akshaya Tritiya, an auspicious occasion for buying gold in India, is considered a symbol of prosperity and good fortune. As families head to jewellers and bullion dealers to make their festive purchases, understanding the purity of gold, especially in its 24-karat form, becomes crucial for making informed decisions. While shopping for gold coins or bars (bullion) this Akshaya Tritiya, you may notice markings like 999 or 995 fineness stamped on them. These numbers can be confusing for many, but they simply refer to the purity level of gold in parts per thousand. And if you're planning to invest in the purest form of gold, 24-karat gold is your go-to option. What Does 24-Karat Gold Mean? Gold purity is measured in karats and fineness. According to the World Gold Council, 24-karat gold is considered pure because it is not alloyed with other metals. This translates to a fineness of 1.0, or 1,000 parts per thousand. However, due to slight impurities that naturally occur during refining, gold is usually available in fineness levels like 999 (99.9%) or 995 (99.5%)—both considered 24-karat, but with minor differences in purity. 999 vs 995 Fineness: Which One Should You Buy? As gold purity increases, so does its price. Naturally, 999 fineness gold (99.9% pure) is slightly more expensive than 995 fineness gold (99.5% pure). According to Vikas Singh, MD & CEO of MMTC-PAMP, these purity levels are international standards used to classify gold. The difference lies in the level of impurities present—marginal, but it can impact both the cost and intended use. What About Jewellery in 24K? While 24K jewellery exists, it's rare. Specialised equipment is needed to shape such soft gold, so most jewellers offer ornaments in 22K or 18K. However, 24K pendants, coins, and small religious items may be found this festive season. Suvankar Sen of Senco Gold & Diamonds adds that in some traditional markets—especially in western India—23K jewellery is also offered, catering to niche preferences. Hallmarking Rules You Should Know Since June 2021, the government has made hallmarking mandatory for gold items in six purity levels: 14KT, 18KT, 20KT, 22KT, 23KT, and 24KT. For 24K gold, 995 fineness is the standard benchmark. Although hallmarking is not mandatory for coins and bars, experts like Prithviraj Kothari from IBJA recommend looking for hallmarked items to ensure authenticity and transparency. Akshaya Tritiya in 2025 will be celebrated on Wednesday, April 30. It is considered an auspicious day for new beginnings, especially for purchasing gold and making significant investments.
