Senco Gold Q2 Net Jumps to ₹ 48.8cr, Revenue Up 2 % YoY

Senco Gold Ltd on Thursday reported a four-fold jump in consolidated net profit on-year to ₹ 48.8 crore for the September quarter, driven by improved margins and higher demand for diamond jewellery, despite a volatile gold price environment.

The company’s bottomline stood at ₹ 12.1 crore in the year-ago period.

Consolidated revenue for the quarter rose 2 % year-on-year to ₹ 1,536.1 crore, while adjusted EBITDA increased 30 % to ₹ 106.5 crore.

The EBITDA margin improved sharply to 6.9 % from 5.4 % a year earlier, Senco Gold said.

For the half year ended September 30, consolidated revenue grew 16 % to ₹ 3,362.3 crore from ₹ 2,904.4 crore a year earlier.

Managing Director and CEO Suvankar Sen said the company delivered a strong performance in Q2 despite headwinds such as record-high gold prices of ₹ 11,650 per gram, heavy rain, and global uncertainties.

“Our consolidated revenue grew... Supported by higher average selling prices and strong demand for diamond jewellery. We achieved record ‘Dhanteras’ sales of over ₹ 1,700 crore in October, and we are confident of maintaining strong growth momentum in the festive and wedding season,” Sen said.

Group CFO and Head of Investor Relations Sanjay Banka said profitability improved significantly, with H1 EBITDA margin expanding 310 basis points year-on-year to 8.6 %.

“Our balance sheet remains strong with a debt-equity ratio of 0.75, even after building inventory worth ₹ 4,309 crore ahead of the festive season,” he added.