The company’s net profit stood at Rs 86 crore during the third quarter of the current financial year (Q3FY25)
Driven by increased Demand, customer engagement and sustained purchasing behaviour at the store level, P N Gadgil Jewellers has reported a 49.4 per cent year-on-year increase in its consolidated net profit in the third quarter of the current financial year (Q3FY25). The company’s net profit stood at Rs 86 crore, compared to Rs 57.6 crore in Q3FY24.
The company’s revenue from operations marked an uptick of 23.5 per cent YoY to Rs 2,435.75 crore in the recently concluded quarter, compared to Rs 1,972.15 crore in the corresponding period of the previous fiscal. The earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 129.7 crore, compared to Rs 94.5 crore in Q3FY24.
“Our strong Q3FY25 performance reflects the continued trust of our customers and the strength of our retail presence. With record-high monthly revenue, robust same-store sales growth, and increasing customer engagement, we remain focused on enhancing our offerings and expanding our footprint,” stated Saurabh Gadgil, Chairman and Managing Director (MD), PNG Jewellers.
The company stated that revenue per store stood at around Rs 1,272 million, while net profit per store reached Rs 32.56 million. “Retail segment is 77 per cent of our total sales, continues to lead the way, achieving an impressive revenue growth of 41.8 per cent, an EBITDA margin of 6.8 per cent and a PAT margin of 4.6 per cent,” the company added.
The company opened nine showrooms across nine consecutive days during Navratri, taking its store count to 48, with plans to reach 53 by Q4FY25. The company added that the transaction count grew by 20.9 per cent, alongside a 21.7 per cent increase in Average Transaction Value (ATV), reaching Rs 86,000. A 36.2 per cent increase in foot falls, coupled with a strong Conversion rate of 93.7 per cent added to the growth.
