PN Gadgil posted strong Q3 results with profit nearly doubling, higher margins and festive-led sales, even as shares slipped slightly in early trade today post-earnings.
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Shares of PN Gadgil Jewellers Ltd. were down less than 1% after the company reported its Q3 earnings, despite a sharp rise in profit, revenue, and margins.
Net profit nearly doubled, rising 99% year-on-year to ₹171 crore for the quarter ended December 31, compared with ₹86 crore a year ago. Revenue increased 35.6% to ₹3,303 crore from ₹2,435.7 crore in the corresponding quarter last year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) also almost doubled to ₹247 crore from ₹122.4 crore. EBITDA margin expanded by 250 basis points year-on-year to 7.5% from 5%.
During the quarter, the jeweller recorded its highest-ever single-day revenue of ₹277 crore on Dhanteras, while sales on Dussehra rose 64% year-on-year to ₹190 crore.
The company’s e-commerce business surged 138% year-on-year and contributed 5.1% to total revenue. Same-store sales growth (SSSG) stood at 32%.
PN Gadgil also launched three exclusive co-owned outlets during the quarter, taking its total store count to 66.
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