PN Gadgil’s net profit nearly doubled in the June quarter, increasing by 96.3% from the year-ago quarter to ₹69.3 crore. Revenue increased by 2.8% from the base quarter to ₹1,714.5 crore.
Earlier in July, the company had shared its business update, where it mentioned that the retail segment had seen growth of 19.4% during the June quarter from last year. The retail segment forms 70.3% of the company’s overall revenue.PN Gadgil’s E-Commerce business for the quarter more than doubled from last year, increasing by 126%. The business though, contributes only 4% to the overall topline.
The franchisee operations also more than doubled in the first quarter, increasing by 109%, and contributed to 15.7% of the overall topline.Excluding the refinery segment, revenue growth stood at 30.4% from last year, PN Gadgil had stated in its business update.
The quarterly performance also received a boost on account of Akshaya Tritya falling during this period, where the company reported its highest-ever single-day festive sale worth ₹139.5 crore, a growth of 35.1% from last year.
Stud ratio for the quarter stood at 10% of the overall sales, while Same Store Sales Growth stood at 8%, impacted by the absence of Gudi Padwa this quarter, which was present in the base quarter.
“Key growth markets such as Maharashtra, where we continue to maintain a leadership position, and other regions such as Uttar Pradesh and Madhya Pradesh which presents strong growth potential, will remain central to our expansion strategy,” the company’s business update had read.
Shares of PN Gadgil are now in a 10% upper circuit, currently at ₹603.5, and extending their gains from the IPO price of ₹480.
