Jewellery retail chain PN Gadgil Jewellers Ltd on Wednesday (January 8) reported a consolidated year-on-year (YoY) revenue growth of 24% for Q3 FY25, driven by robust same-store sales growth and festive demand during Dussehra, Diwali, and the wedding season.
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“In Q3 FY25, PNG Jewellers witnessed a consolidated YoY growth of around 24% compared to the same period in Q3 FY24. This growth was driven by a strong increase in same-store sales growth, Festive demand in Dussehra, Diwali and the wedding season,” the company stated in a stock exchange filing.
The retail segment led the growth with a 42% YoY revenue increase, while the franchise segment posted an 87% YoY rise. The e-commerce segment outperformed, recording a 98% YoY surge in revenue. The diamond category also saw strong momentum, achieving a 40% YoY growth in revenue.
Also Read: Jewellery retailer PN Gadgil eyes 40% revenue growth for the year
In alignment with its expansion strategy, the company opened nine new stores over nine consecutive days during Navratri in October 2024. Three additional store launches are planned for the next quarter.
“As previously mentioned, in line with the plan to open 12 new stores, we have already launched 9 new stores over 9 consecutive days during Navratri in Oct‐24. Moreover, we are all set to open 3 more stores in the upcoming quarter, further enhancing our store presence,” PN Gadgil Jewellers added.
Shares of PN Gadgil Jewellers Ltd ended at ₹672.40, down by ₹18.70, or 2.71%, on the BSE.
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