The price of Senco Gold’s shares increased by more than 4% on Friday, continuing its recent upward trend. The multibagger stock has risen more than 10% in the previous three sessions and 14% in a single month. Senco Gold shares have increased by more than 178% during the last year.
Despite poor sales performance, Senco Gold, a jewellery manufacturer, surpassed street predictions for its Q1 earnings due to an increase in gross margin. For the quarter ended in June 2024, the company’s consolidated revenue from operations increased by 7.5% to ₹1,403.89 crore. On a year-over-year (YoY) basis, retail sales growth was higher at 9.6%, with same-store sales growth (SSSG) at 4%.
In Q1FY25, the company’s net profit increased by 85.3% YoY to ₹51.27 crore. Despite fewer wedding days and pressure from rivals, the consolidated gross margin increased by 480 bps YoY and 20 bps QoQ to 17%.
As of 10:40 am, Senco Gold shares were trading 0.91% higher at Rs 1,109.30 on the NSE.
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