Kolkata: Jewellery retail major Senco Gold Ltd on Friday said the recent sharp spurt in gold prices due to geopolitical reasons has dampened demand, and the industry’s first-quarter performance hinges upon ongoing buying propensity during festive and auspicious New Year celebrations. The Kolkata-based retail chain said it has taken a slew of measures to combat…
Representative image Kolkata: Large jewellery chains such as Kalyan Jewellers, Tanishq, Malabar Gold & Diamonds, Joyalukkas and Senco Gold are staying away from lab-grown diamonds (LGDs) citing low demand and an aversion to mixing them with natural stones at counters. Nonetheless, the buzz over such stones – much cheaper than natural diamonds and indistinguishable from…
Mumbai: BlueStone Jewellery, an online-first jeweller backed by Ratan Tata, plans to raise around ₹2,000 crore through an IPO, people familiar with the matter said. The startup is seeking pitches from investment bankers to underwrite and market the IPO that is likely to involve diluting a 10-15% stake, comprising a fresh issue of shares and…
Representative image Mumbai: Jewellery retailer Senco Gold has reported a 5.8 per cent growth in consolidated profit after tax at Rs 109.32 crore for the quarter ended December 31, 2023. The company’s profit after tax (PAT) stood at Rs 103.35 crore during the corresponding quarter of the previous fiscal, the jewellery retailer said in a…
Senco Gold and Diamonds Kolkata-based Senco Gold & Diamonds on Friday announced that it has become the first Indian jewellery brand to join Open Network for Digital Commerce (ONDC) Network. Through this maiden integration, Senco Gold and Diamonds extensive catalogue will be available across various shopping apps within the expanding ONDC Network, facilitating smooth and…
Sanjay Banka, CFO Senco Gold Sanjay Banka, CFO, Senco Gold, says “the next two quarters will not be better than the first half. If we look at the past trends, the major sales happen up to Dhanteras. We have already seen around 26-27% year-on-year growth till today. The next quarters are likely to take the…
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…
Senco Gold, the largest organised jewellery retail player in eastern India, is likely having a golden run since its marktrading debut that added glitter to the brand value and led to increased footfall across stores. “We are seeing additional footfalls and our brand awareness among customers have increased due to the IPO,” Managing Director Suvankar…
Kolkata-based Senco Gold, a recent debutant on the exchanges, on Monday reported 23% growth in its consolidated net profit at Rs 27.6 crore for the quarter ended June 2023. It was Rs 22.5 crore in the year-ago period. Revenue from operations jumped 30% to Rs 1,305 crore in the June quarter, compared with Rs 1,007…
