The shares of P N Gadgil Jewellers Ltd. on Monday (October 7) fell by more than 8 per cent after the company announced their financial results depicting a 36 per cent decline in net profit for the quarter ending June 2024.
This drop in profits has raised concerns among investors, causing the stock to trade at its lowest level since September 20, at Rs 695 per share.
The company's today ended the day at Rs 707.45 apiece, down by Rs 6.52 per cent.
Share performance |
As of 12:12 p.m., the share price had slightly recovered, trading 5.6 per cent lower at Rs 714.35. In contrast, the NSE Nifty 50 Index saw a modest decline of just 0.4 per cent.
Financial Results
In its recent exchange filing, P N Gadgil Jewellers reported a net profit of Rs 35.32 crore, which marks a 35.7% sequential decline.
"The company's total revenue for the quarter was Rs 16,681 million, compared to Rs. 12,568 million for the same period during the previous financial year. The company recorded an EBIDTA of Rs. 662.58 million for Q1FY25, compared to Rs 456.44 million in the same quarter of the previous year," the company added in the BSE filing.
As per the regulatory filing, the company said, "Retail Revenue in FY 25 grew Rs 9881.62 million from Rs7892.05 million in FY 24, a growth of 25% YoY. The Retail EBITDA in FY 25 grew to Rs 632.69 million from Rs. 431.30 million in FY 24, a growth of 47% YoY. The Retail PAT in FY 25 grew to Rs 338.93 million from Rs. 209.18 million in FY 24, a growth of 62% YoY."
Since its listing on September 17, P N Gadgil Jewellers has seen a cumulative decline of 9.9 per cent in its stock value.
