P N Gadgil Jewellers Q2 consolidated PAT grows 2-fold to Rs 79.31 crore

Mumbai, Nov 12 (PTI) Jewellery retailer P N Gadgil Jewellers on Wednesday reported an over twofold rise in consolidated net profit after tax to Rs 79.31 crore compared to a year ago.

The company's profit after tax (PAT) stood at Rs 34.92 crore during the corresponding period of the previous fiscal, P N Gadgil Jewellers said in a regulatory filing.

Revenue from operations of the company grew by 8.80 per cent during the quarter under review to Rs 2,177.62 crore, compared to Rs 2,001.31 crore in the same period of the previous year.

"Our performance was supported by healthy growth across all segments, led primarily by the retail business. Our signature events, Mangalsutra Mahotsav and Paijan Mahotsav, received an exceptional customer response, while record-breaking Navratri sales of Rs 428.1 crore provided a strong close to the quarter's performance," Saurabh Gadgil, Chairman & Managing Director of P N Gadgil Jewellers Limited, said.

During the quarter, the company also launched a flagship store in Dadar, Mumbai, further strengthening our presence in Maharashtra, and expanded beyond our home state, entering new markets in Uttar Pradesh and Madhya Pradesh.

"With Dussehra, Diwali, and the upcoming wedding season in the subsequent quarter, we remain optimistic about sustaining this growth momentum," he added.

Shares of the company closed at Rs 670.60 apiece, up 0.96 per cent on the BSE. PTI SM SHW