Sky Gold Limited reports 41% rise in net profit in FY24 Q3

Jewellery business Sky Gold reported that its consolidated net profits rose by 41% year-on-year in the third quarter of the 2024 financial year to total Rs 8.93 crore. The business’ revenue also increased during the same time period. 

Sky Gold’s consolidated net profit had totalled Rs 6.34 crore in the third quarter of the 2023 financial year, representing a significant year-on-year increase, shown in its unaudited financial results published on the business’ website dated January 27. The business’ income totalled Rs 460.9 crore in the quarter which ended in December 2023, compared to its total of Rs 267.56 crore in the third quarter of the 2023 fiscal. 
 
Sky Gold’s basic earning per share totalled Rs 8.15, up from Rs 6.76 in the same quarter a year prior, according to its unaudited financial results. The business’ diluted earning per share totalled Rs 8.1 in the third quarter of the 2024 financial year compared to Rs 6.72 in the third quarter of the 2023 fiscal. 

The Mumbai-based business was established in 2008 and its promoters are Mahendra Chauhan, Darshan Chauhan, and Mangesh Chauhan, according to its website. The brand specialises in traditional, fusion, and modern lightweight jewellery for women and works on a business to business model, collaborating with large scale jewellery wholesalers and retailers in India.