Senco Gold Q2 Profit Up 1.6% to Rs 12.1 cr

Mumbai, Nov 15 (PTI) Jewellery retailer Senco Gold has reported a 1.6 per cent growth in consolidated profit after tax (PAT) at Rs 12.1 crore for the second quarter ended September 2024.

The company's PAT stood at Rs 11.6 crore during the corresponding period of the previous year, Senco Gold said in a regulatory filing.

Its revenue from operations grew 30.86 per cent during the quarter under review to Rs 1,500.5 crore compared to Rs 1,146.6 crore a year ago.

"In the second quarter, we had an overall growth of about 31 per cent. The gold price had been at an all-time high during the festive season, which had a detrimental impact on many customers.

"The second quarter has been a phenomenally unexpected, good quarter with a growth level of close to 30 per cent compared to the last quarter because of the duty cut, making it easier for the consumers to buy. There has also been a lot of rural demand coming from tier II, III, and IV cities due to the price coming down," Senco Gold Managing Director and CEO Suvankar Sen said.

Shares of the company on Friday closed at Rs 1,077.95 apiece, up 1.71 per cent on BSE.