The company announced that it has registered highest ever Q3 revenue with secular trend across geographies and channels.

“On the economy front, while we are seeing a trend of weak rural demand, the jewellery sector remained insulated and has rather seen higher demand across most retailers,” stated the company.

The firm said that the key offers during Q3 helped in enhancing footfall and catalysing the sale in line with market sentiments. The company also achieved almost 40% increase in footfall and 6% increase in invoices which have contributed to this growth.

Furthermore, despite rising gold prices , Senco Gold has achieved 9% volume growth in Gold and around 27% volume growth in diamond jewellery in line with past trend indicating the attractive potential in its core markets. The old gold exchange was 33% of total sales made and almost 70% of old gold was from non Senco customer indicating shift from non- organised to organised and Senco as the preferred Jeweller, it added.

The same store sales growth (SSSG) was once again a major impetus for growth contributing about 17% out of total 24% growth during the quarter.

Meanwhile, the company’s revenue jumped 26% YoY in nine months ended December 2023. The 9 months SSSG was 19% out of total 26% YoY growth.

The jewellery retailer stated that it has achieved consistent improvement in stud ratio (diamond jewellery as percentage of total turnover). Its own showrooms achieved stud ratio performance of 13.2% (achieving 190 basis points growth over 11.2% of last year 9m) , while the blended ( own showroom and franchisee room) stud ratio was 11.0% (as against 9.7% for 9 months last year). The stud ratio was highest in North at 17.8%.

Senco Gold’s showroom portfolio has now expanded to 155 with launch of 19 showrooms (net) in last 9 months . Out of 155 showrooms, 65 (42%) are franchisee owned and operated. Further 117 out of 155 (75%) of its showroom are in East, followed by 22 in North, 7 in West and 5 in South.

Senco Gold is a pan-India jewellery retail player with a history of more than five decades. The company is the largest organized jewellery retail player in the eastern region of India based on number of stores. Among eastern India based jewellery retailers, it has the widest geographical footprint in non-eastern states.

The company’s consolidated net profit jumped 35.9% to Rs 11.95 crore on 25.8% increase in net sales to Rs 1,146.56 crore in Q2 FY24 over Q2 FY23.

The scrip hits 52-week high at Rs 840 in today’s intraday session.