New Delhi: Jewellery retailer Senco Gold saw its quarter-on-quarter net profit fall to Rs 32 crore in Q4FY24 against Rs 109.3 crore in Q3, regulatory filings showed. In sales terms, Senco’s Q4 revenue from operations stood at Rs 1,137 crore, while in the December quarter, the company reported an income of Rs 1,652 crore. However,…
The surge in gold prices over the last six weeks has pushed up the price of diamond- jewellery in India and crimped its demand. To bring down the rates and get customers back to buying, several jewellers have started using lower cartage yellow metal in their pieces. In place of 18-carat gold, stores are now…
Suvankar Sen, MD & CEO, Senco Gold, says the endeavour of the Birla group to enter into the industry is just a signal that the industry is getting more and more organised. The story that we have been hearing over the last 5-10 years, the shift from the unorganised to organised, are the actions and…
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…
