Senco Gold Shines Bright: Profit Soars Amidst Gold Price Volatility

Senco Gold Ltd reported a four-fold increase in net profit for the September quarter, reaching Rs 48.8 crore. The company's revenue rose by 2%, driven by improved margins and strong demand for diamond jewellery. Despite challenges like high gold prices and global uncertainties, Senco Gold remains optimistic about future growth.

Senco Gold Ltd announced a remarkable four-fold surge in its consolidated net profit to Rs 48.8 crore for the September quarter, reflecting improved margins and a higher demand for diamond jewellery, even amidst fluctuating gold prices.

The company's consolidated revenue for the quarter saw a marginal 2% uptick year-on-year, reaching Rs 1,536.1 crore. The adjusted EBITDA showcased a significant increase of 30% to Rs 106.5 crore, with the EBITDA margin climbing to 6.9% from 5.4% the previous year.

With a strong half-year performance and a strategic inventory build-up, Senco Gold remains confident about sustaining growth in the festive and wedding seasons, despite facing obstacles such as record-high gold prices and adverse weather conditions.

(With inputs from agencies.)