Sky Gold profit rises to Rs 67 cr in Q2

New Delhi, Nov 13 (PTI) Sky Gold and Diamond on Thursday reported an 82.48 per cent jump in consolidated net profit to Rs 66.99 crore in the September quarter on higher sales.

The company had posted a net profit of Rs 36.71 crore in the same quarter a year ago, according to a regulatory filing.

Total income increased to Rs 1,492.45 crore during the quarter, from Rs 788.59 crore in the year ago period.

Expenses remained higher at Rs 1,404.55 crore as against Rs 742.41 crore in the said period.

Sky Gold and Diamond Managing Director Mangesh Chauhan said the results reflect a continued acceleration of the strategic growth levers the company put in place earlier this year.

"With lightweight and 18 karat jewellery gaining strong traction, new large-format B2B partnerships coming on stream, and our export mix steadily rising, we are making tangible progress towards our medium-term ambition," he said.

Looking ahead, the upcoming Dubai-based sales and distribution hub will anchor the company's expansion into the Middle East, while it continues to deepen partnerships across Southeast Asia and India's regional markets, he said. PTI LUX TRB