Senco Gold, one of India’s top retailers of jewellery, had its shares jump 9% in early morning trading today, hitting a seven-week high of Rs 1,129 per share, following the release of the company’s impressive Q1 results.
Consolidated revenue from operations increased by 7.5% for the firm to ₹1,403.89 crore. Year-over-year (YoY) rise in retail sales was 9.6%, but same-store sales growth (SSSG) was just 4%.
Senco Gold reported that despite obstacles including intense heat, the Lok Sabha elections and fewer wedding days, their sales performance during Akshay Tritiya (the first 41 days of Q1) matched expectations and showed an exceptional YoY rise of 21%.
The firm also reported good performance during the Bangle Utsav, which took place during Poila Baisakh and Akshay Tritiya, resulting in healthy margins. The average transaction value (ATV) climbed by 12% to ₹73,900, while the average selling price (ASP) jumped by 13% to ₹49,000, as per the company’s filing.
As of 10:51 am, Senco Gold shares were trading 6.61% higher at Rs 1,103.95 on the NSE.
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