Senco Gold’s October Sales Surge 56% to ₹1,700 Crore on Festive Demand

Jewellery retailer Senco Gold & Diamonds reported a strong festive season performance, with sales rising 56% year-on-year to ₹1,700 crore in October, driven by robust buying during Diwali and Dhanteras.

According to a company statement, gold sales by value grew 60% year-on-year, while diamond sales increased 32%. The company also recorded volume growth across segments — 4% in gold, 5% in diamonds, and 8% in silver — despite a sharp rise in gold prices, which hit a record ₹1,32,294 per 10 grams on October 31.

“These record numbers reflect a very positive customer sentiment, indicating strong momentum in the months ahead,” said Suvankar Sen, Managing Director and CEO of Senco Gold & Diamonds. “We are fully prepared to meet strong demand during the upcoming wedding season and through Q3 and Q4,” he added.

Sen noted that the company is focusing on enhancing operating leverage, improving EBITDA margins, and tightening inventory management to boost Return on Capital Employed (ROCE) and Return on Equity (ROE).

The upbeat performance underscores strong consumer appetite for jewellery purchases during the festive season, even amid elevated gold prices.

(Source: PTI)