The company stated that retail growth was steady at 19 per cent year-on-year (YoY) in the third quarter
Registering a healthy uptick in business, Senco Gold has reported a 22 per cent year-on-year (YoY) growth in the total revenue in the third quarter of the current financial year (Q3FY25) and 19 per cent YoY growth in the same during the first nine of the current fiscal (9MFY25), as per a regulatory filing by the company.
Sharing the business update, the company added that retail growth was steady at 19 per cent YoY in the recently concluded quarter and the growth in tier three and four towns outpaced metro and tier two city growth as observed in the economy in general and retail consumption in particular. The same-store sales growth (SSSG) was steady in the 13 to 14 per cent range in the quarter.
As far as the topline growth is concerned, the company said that it achieved the highest-ever sales of over Rs 1000 crore in a single month in October 2024 and over Rs 2000 crore in a single quarter in Q3. On a TTM basis, the revenue has crossed the benchmark of over Rs 6000 crore. The stud ratio continued to be at 10.5 per cent range.
“We are continuing to invest in marketing, inventory build-up and customer engagement programmes to promote and elevate the stud ratio, especially in the northern markets. A new wholly owned subsidiary has been incorporated which will drive the Sennes business as a value creation strategy. Sennes business will focus on the consumer lifestyle segment which presently includes premium leather accessories, Lab Grown Diamonds Jewelleries and Perfumes,” the company said in its statement.
The company’s showroom portfolio has now expanded to 170 (including 69 franchisee showrooms) with the opening of 12 showrooms (net) in the last nine months which includes seven own stores. During the quarter, it opened four more showrooms. On the Q4FY25 outlook, the company said that it is eyeing to open 18 to 20 jewellery showrooms this year.
