Sky Gold Q2 profit jumps five-fold on robust sales

Sky Gold on Friday said it reported a five-fold jump in net profit at Rs 36.7 crore in the September 2024 quarter on robust income.

Its net profit stood at Rs 7.3 crore in the same quarter previous fiscal, the company said in a statement.

Total revenue surged by 94.2 percent to Rs 768.8 crore during the quarter ended September 2024 from Rs 396 crore a year ago.

Sky Gold Managing Director and CFO Mangesh Chauhan said, "Our progress reflects the impact of ongoing product innovation, enhanced capacity utilisation, and synergies from recent acquisitions of Sparkling Chains and Starmangalsutra, along with the benefits of our recent Rs 270 crore fund raise." These initiatives have been instrumental in strengthening the company's working capital, expanding the footprint in key regions, and significantly boosting addressable market share from 35 percent to 70 percent.