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Jewellery retailer P N Gadgil (PNG) Jewellers has reported a sharp 96.31% jump in consolidated net profit for the first quarter of FY25, reaching ₹69.34 crore, up from ₹35.32 crore in the same period last year. The impressive profit growth comes despite only a modest increase in revenue.
According to a regulatory filing, the company’s revenue from operations rose 2.78% year-on-year to ₹1,714.56 crore, compared to ₹1,668.18 crore in Q1 FY24.
Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, attributed the performance to a combination of retail expansion, higher sales of studded jewellery, and improved cost efficiency. “This has been a good quarter for us. EBITDA rose by 85.4% to ₹122.85 crore, and PAT grew 96.3% year-on-year. We've managed to maintain strong momentum despite gold price fluctuations and a challenging macro environment,” he said.
Gadgil highlighted increased consumer traction across the company’s retail footprint, supported by operational improvements that boosted profitability. “We will continue to build on this momentum by staying focused on quality, design, and delivering long-term value for customers and shareholders,” he added.
The strong quarterly performance reflected positively in the market, with shares of PNG Jewellers closing 6.18% higher at ₹581.10 on the BSE.
Industry analysts note that PNG’s robust Q1 results indicate solid demand resilience and effective business execution amid a volatile gold market, positioning the company well for continued growth in FY25.
(Source: PTI)
