The company’s net profit stood at Rs 36.54 crore in the third quarter of the current fiscal (Q3FY25)
Marking a healthy improvement in its financial performance, Sky Gold, a Mumbai-based jewellery company has registered a 309.10 per cent year-on-year (YoY) increase in its consolidated net profit for the third quarter of the current fiscal (Q3FY25). The company’s net profit stood at Rs 36.54 crore in Q3FY25, compared to Rs 8.93 crore in Q3FY24.
The company posted a 116.74 per cent on-year increase in revenue from operations as it surged to Rs 997.97 crore during the recently concluded quarter. The consolidated revenue during the corresponding period of the previous fiscal stood at Rs 460.44 crore. The total expenses of the company also rose to Rs 955.73 crore during the quarter, from Rs 448.94 crore in Q3FY24.
“This growth is a testament to our strategic initiatives and operational efficiency. During the quarter, we successfully approved a 9:1 bonus share issue, reinforcing our commitment to enhancing shareholder value. The acquisitions of Starmangalsutra and Sparkling Chains have significantly bolstered our market position by expanding product offerings and leveraging operational synergies,” stated Mangesh Chauhan, Managing Director and Chief Financial Officer (CFO) of the company.
As far as the earnings before interest, tax, depreciation and amortisation (EBITDA) is concerned, the company posted EBITDA of Rs 57.29 crore, reflecting a 217.6 per cent growth compared to the same quarter of the previous fiscal, as per the official statement. The profit after tax (Pat) margin of the company stood at 3.66 per cent during the recently concluded quarter, up from 1.94 per cent during the same period of the previous year.
Aimed at diversifying its portfolio and tap into a burgeoning market, both domestically and internationally, the company has also informed its upcoming entry into the lab-grown diamond segment, aligning with global trends and customer preferences.
