Gold prices continued its northward journey throughout FY 23-24 including in Q4 on account of heightened geopolitical tensions, increased gold buying by central banks across the globe, high FED rates and likely soft landing, INR US$ exchange rates and momentum effect, added the company.
During FY24, the jeweler’s revenue jumped 28% as compared to the same period a year ago.
Despite rising gold prices, on YoY basis the company has achieved 13% volume growth in gold and 19% volume growth in diamond in full year. The old gold exchange as % of sales increased from 29% to 32% YoY; out of which and almost 65% of old gold was from non senco customer indicating shift from non-organised to organized, the company stated in the press release.
The same store sales growth (SSSG) during F...
More News
|
|