Thangamayil Jewellery Ltd Q4 net profit declines 9 percent to Rs 28 crore

Thangamayil Jewellery Ltd reported a 9 percent decline in net profit to Rs 28 crore ($3.3 million) for the quarter ended March 31, as against Rs 31 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 27 percent to Rs 981 crore, as against Rs 770 crore during the previous quarter ended March 2023.

Sales from gold jewellery for the quarter stood at Rs 878 crore while silver, diamonds and other products contributed Rs 74 crore.

For the full financial year, the company’s net profit rose 55 percent year-on-year to Rs 123 crore and sales rose 21 percent to Rs 3,827crore.

During the quarter, the company strengthened its retail presence by opening four new stores to take its store count to 57.

Thangamayil Jewellery Ltd manufactures, retails gold, silver, and diamond jewellery mainly operating out of its retail outlets spread across southern and western districts of Tamil Nadu.