Sky Gold Ltd Shines with Five-Fold Profit Surge

Sky Gold Ltd reported a five-fold increase in net profit to Rs 36.7 crore for the September 2024 quarter, fueled by robust revenue growth and strategic initiatives. Revenue rose to Rs 768.8 crore, driven by product innovation and key acquisitions, significantly expanding market share and regional footprint.

Sky Gold Ltd announced a remarkable five-fold increase in its net profit, reaching Rs 36.7 crore for the quarter ending September 2024. This surge is attributed to an impressive 94.2% growth in total revenue, which climbed to Rs 768.8 crore compared to the same period last year.

The company's strategic endeavours, such as product innovation, enhanced capacity utilisation, and recent acquisitions of Sparkling Chains and Starmangalsutra, were highlighted by Managing Director and CFO Mangesh Chauhan as key contributors to this success.

Chauhan also noted the importance of a Rs 270 crore fundraise in strengthening working capital and expanding the company's market share from 35% to 70%, solidifying its presence in vital regions.

(With inputs from agencies.)