Sky Gold sees 8-fold jump in Q2 net profit

NewsDrum Desk
10 Nov 2023
New Update

New Delhi, Nov 10 (PTI) Sky Gold Ltd on Friday said it has posted an eight-fold jump in consolidated net profit at Rs 7.26 crore for the second quarter of the 2023-23 fiscal year on robust revenue.


The company in a statement said its net profit stood at Rs 0.89 crore in the same quarter of the previous fiscal.

Total income increased by 30 per cent to Rs 395.97 crore during July-September quarter of the current fiscal, as against Rs 304.10 crore in the year-ago period.

Expenses remained higher at Rs 382.11 crore in the period under review, as against Rs 302.18 crore in the said period.

"The recently concluded quarter has proven to be a remarkable period in the history of Sky Gold’s operations, as we achieved the highest ever Q2 revenue of Rs 395.97 crore," Sky Gold’s Chairman and Managing Director Mangesh Chauhan said.

Established in 2008, Mumbai-based Sky Gold is primarily engaged in the design, manufacturing, and marketing of gold jewellery. It operates under a Business-to-business (B2B) model. PTI LUX DRR