PN Gadgil Jewellers Ltd. reported a 46% year-on-year (YoY) growth in revenue to Rs. 20,013.10 million for the second quarter of the current fiscal year. In Q2 FY25, PNG\u2019s profit after tax (PAT) increased by 59% YoY to Rs. 349.19 million. Retail revenue grew by 37% YoY to Rs. 12,195.05 million, and e-commerce revenue surged by 95% to Rs. 965.84 million YoY in H1 FY25.<\/p>\n
Among the factors driving growth were strong consumer demand during festivals like Ganesh Utsav and Raksha Bandhan. Also, the government’s decision to lower gold import duty boosted consumer sentiment. Initiatives like Maha Mangalsutra Mahotsav and Painjain Mahotsav drove sales as well.<\/p>\n
Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, said, \u201cThe second quarter of FY25 has been highly rewarding, marked by strong operating performance across all our markets despite significant volatility in gold prices. Q2 FY25 surpassed expectations, establishing a solid foundation for growth, with demand levels exceeding those of Q2 FY24.<\/p>\n
\u201cSeveral factors shaped this successful quarter. The reduction in gold import duty announced in the union budget was a pivotal development. Lowering the import duty for gold and silver to 6% and platinum to 6.4% aligned with industry demands and positively impacted consumption, helping moderate prices that had previously reached record highs. This move has not only supported the growth of the organized sector but also provided much-needed relief to consumers while enhancing market transparency and curbing illegal smuggling activities.<\/p>\n
\u201cAdditionally, the festive season, which included Ganesh Utsav, Janmashtami, and Raksha Bandhan, drove strong gold demand and consumer engagement. We also saw a phenomenal response to our Maha Mangalsutra Mahotsav and Painjain Mahotsav which further boosted sales and strengthened our market position. Collectively, these factors along with our successful stock market debut, contributed to the strong operating performance we achieved in Q2 FY25.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
PN Gadgil Jewellers Ltd. reported a 46% year-on-year (YoY) growth in revenue to Rs. 20,013.10 million for the second quarter of the current fiscal year. In Q2 FY25, PNG\u2019s profit after tax (PAT) increased by 59% YoY to Rs. 349.19 million. Retail revenue grew by 37% YoY to Rs. 12,195.05 million, and e-commerce revenue surged…<\/p>\n","protected":false},"author":1,"featured_media":28560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-28559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n