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.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

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.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.