PN Gadgil Jewellers Sparkles with 59.11% Profit Surge

PN Gadgil Jewellers reported a 59.11% rise in net profit to Rs 34.91 crore for the quarter ending September 2024. The revenue surged by 45.92%, reaching Rs 2,001.31 crore. Factors like reduced gold import duties contributed to this growth, enhancing market transparency and consumer relief.

Jewellery retailer PN Gadgil Jewellers announced a remarkable 59.11% increase in net profit for the quarter ending September 2024, amounting to Rs 34.91 crore, a significant rise from Rs 21.94 crore in the same period last fiscal.

The firm's revenue also soared by 45.92%, hitting Rs 2,001.31 crore, in comparison to Rs 1,371.51 crore the previous year, as per its recent regulatory filing.

Chairman and Managing Director Saurabh Gadgil attributed this success to strong operating performance and a reduction in gold import duties, fulfilling industry demands and supporting the growth of the organised sector while curbing illegal activities.

(With inputs from agencies.)