Thangamayil Jewellery Q1 Fy24 result highlights/updates:
- Highest ever quarterly revenue of ₹959 crore and Net profit of 58.57 crs.
- Better price realizations and rally in gold prices during the quarter led to strong earnings. (Gold prices have inched up since June after a brief correction.)
- Growth in sales across retail product categories.
- YOY Retail grew by 27%(930 crs vs 731crs), wholesale de-grew by 70%(29crs vs 90crs).
- YOY Volume of Diamond products grew by 48% (volume in carats 3401 vs 2304)
- Total number of retail outlets stand at 54.
Overall management has guided for a better performance over Fy23 in the latest Annual report and Q1 results reflect the same. If the five year historical top line growth is maintained on the gross margin guidance by the management, Fy24 will be good.
Disclosure : Invested.
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