Sky Gold Ltd reported a five-fold rise in its net profit for the September 2024 quarter, driven by robust revenue growth. The company’s net profit surged to ₹36.7 crore, up from ₹7.3 crore in the same period last fiscal.
Total revenue almost doubled, rising by 94.2% year-on-year to ₹768.8 crore, compared to ₹396 crore in Q2FY24.
Commenting on the performance, Managing Director, and CFO Mangesh Chauhan said, “Our growth reflects hard work at consistent product innovation, improved capacity utilization, and accruing synergies from recent acquisitions of Sparkling Chains and Starmangalsutra. The ₹270 crore fundraise strengthened our working capital at large, expanded regional presence, and increased our addressable market share from 35% to 70%.”.
With these strategic moves, Sky Gold remains best placed to benefit from surging demand in its core markets and, therefore, remarkably enhance the competitive advantage for business in jewelry.
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Source: Moneycontrol
News Desk
