New Delhi: Senco Gold & Diamonds, on Wednesday, has reported its highest-ever Q4 standalone revenue crossing Rs 1,300 crore, up 19.1 per cent YoY, backed by a surge in wedding demand and resilient consumer appetite despite rising gold prices, the company said in a regulatory update. Its retail revenue grew 23 per cent year-on-year (YoY)…
New Delhi: Rupesh Jain, the founder of Candere by Kalyan Jewellers, is making a return to the jewellery industry with a new venture focused on lab-grown diamonds (LGDs). After successfully scaling Candere, an online jewellery brand he founded in 2013, Jain sold the company to Kalyan Jewellers in a phased acquisition, with the final stake…
Kolkata: Lightweight jewellery, along with gold and silver coins, accounted for the bulk of the demand on Akshaya Tritiya this year, according to industry executives, as gold prices hovered about 20% higher year-on-year for the day that is considered auspicious to buy gold. Market leader Tanishq said it expects up to 20% year-on-year increase in…
Mumbai: Kalyan Jewellers on Friday reported a 97 per cent growth in consolidated profit after tax (PAT) to Rs 137.49 crore during the March quarter. The jewellery retailer’s PAT stood at Rs 69.79 crore in the year-ago period, Kalyan Jewellers said in a regulatory filing. Consolidated revenue from operations of the company grew 34 per…
This Akshaya Tritiya, expectations of jewellers are high due to a marginal dip in gold prices compared to last month. In April, sales volume decreased by around 20 per cent, although there was an increase in gold consumption in value terms due to escalating gold prices. The jewellery retailers are expecting Akshaya Tritiya to boost…
Elevated prices, fewer weddings and election-related restrictions will likely impact consumer demand of gold, according to World Gold Council (WGC). However, any price stability ahead of Akshaya Tritiya could provide some respite, said Kavita Chacko – Research Head, India of WGC. At the same time, gold’s continued strong performance this year could encourage investment demand,…
Representative image New Delhi: The domestic jewellery retail industry is projected to grow at a yearly rate of 10-12 per cent in FY2024, said ICRA in a note revising its previous forecast of 8-10 per cent growth. The revised growth is mainly driven by the jump in gold prices. In H1 FY2024, jewellery consumption is…
Gold prices surged to Rs 60,000 per 10 grams in March from Rs 55,300 per 10 grams in January following the American banking crisis. Consumers might be buying less gold amid record-high prices, but top retail chains are seeing a surge in jewellery purchased through deferred or monthly payment schemes. Some of the big jewellery…
