Senco Gold shares soar to record high after jewellery retailer posts highest ever Q3 revenue
At around 10 am, Senco Gold shares traded higher by Rs 78.85, or 10.7 per cent, at Rs 814.7 ace on BSE.
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Senco Gold shares rose to register an all-time high on Thursday after the jewellery retailer gave a strong business update for the October-December period. The stock of Senco Gold jumped by as much as Rs 114.6, or 15.6 per cent, to Rs 850 apiece on NSE, and by Rs 104.2, or 14.2 per cent, to Rs 840 apiece on BSE, continuing to gain for the third session in a row.
At around 10 am, Senco Gold shares traded higher by Rs 78.85, or 10.7 per cent, at Rs 814.7 ace on BSE.
In a business update, released post-market hours on Wednesday, the company said it had achieved its highest-ever revenue for the October-December period, with a secular trend across geographies and channels.
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Senco Gold said its revenue grew 24 per cent on a year-on-year basis for the quarter, and 26 per cent for the April-December period, on the back of festive and wedding offers that aided footfall and.
The company saw an increase of almost 40 per cent in footfall while invoices grew six per cent.
Despite rising gold prices, the jewellery maker's volume increased nine per cent in gold and 27 per cent in diamond jewellery, it said.
The exchange of old gold stood at 33 per cent of the company’s total sales. Almost 70 per cent of the old gold was from non-Senco customers, indicating a shift from the non-organised to organised space with Senco being the preferred Jeweller, according to the company.
The company's showroom portfolio expanded to 155 with the launch of 19 showrooms on a net basis in the nine-month period, it added.
Senco Gold share price: Past performance
Senco Gold shares have gained over 102 per cent in the past year, sharply outperforming a 21 per cent rally in the headline Nifty 50 index.
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