Khazanchi Jewellers Ltd Q1 net profit jumps 232 percent to Rs 9 crore

Khazanchi Jewellers Limited reported a 232 percent surge in net profit to Rs 9 crore ($1.1 million) for the April-June quarter, as against Rs 3 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 104 percent to Rs 381 crore, as against Rs 187 crore in the corresponding quarter of the previous fiscal year.

Commenting on the Q1 performance, Rajesh Kumar, chief operating officer at Khazanchi Jewellers in a statement said, “We are pleased with the remarkable growth trajectory that Khazanchi Jewellers Limited has achieved. The overall performance of the company has shown significant growth, underscoring our continued operational efficiency and profitability. This substantial growth reflects our successful strategies and commitment to excellence in the jewellery industry.”

“Driven by strategic capacity expansions and initiatives in FY24, we successfully met increased demand and enhanced our market presence. Our commitment to delivering high-quality jewellery products has significantly improved our operational efficiency,” he added.

Chennai-based Khazanchi Jewellers is a prominent player in the Indian jewellery industry and plans to expand its showroom network during the financial year.