P N Gadgil Jewellers Reports Significant Profit Surge Amid Market Challenges

P N Gadgil Jewellers announced a substantial 96.31% increase in consolidated net profit for the quarter ending June 30. Despite market challenges and gold price volatility, the company's net profit reached Rs 69.34 crore, with revenue growth attributed to retail expansion and better cost discipline.

P N Gadgil Jewellers on Tuesday announced a remarkable 96.31% increase in its consolidated net profit, reaching Rs 69.34 crore for the quarter ending June 30. This is nearly double the Rs 35.32 crore reported in the corresponding period of the previous year.

The company's revenue from operations also saw modest growth, rising by 2.78% to Rs 1,714.56 crore from Rs 1,668.18 crore in the same quarter last year. Chairman and Managing Director Saurabh Gadgil attributes the impressive profit growth to retail expansion and enhanced operational efficiency.

Despite challenges like gold price volatility, the company plans to maintain its growth trajectory by focusing on quality, design, and customer value. Shares of P N Gadgil Jewellers surged by 6.18%, closing at Rs 581.10 on the BSE.

(With inputs from agencies.)