Sky Gold Ltd posts Q3 net profit of Rs 37 crore

Jewellery maker Sky Gold Ltd reported a consolidated net profit of Rs 37 crore ($4.3 million) in the quarter ended December 2024, as against Rs 9 crore in the corresponding quarter of the previous fiscal year.

The company’s revenue for the quarter rose by 117 percent to Rs 998 crore, as against Rs 460 crore in the year ago quarter.

Commenting on the results, Mangesh Chauhan, managing director of Sky Gold in a statement said, “This growth is a testament to our strategic initiatives and operational efficiency. The acquisitions of Starmangalsutra and Sparkling Chains have significantly bolstered our market position by expanding product offerings and leveraging operational synergies.”

“We are also excited to announce our upcoming entry into the lab-grown diamond segment, which aligns with global trends and customer preferences. This initiative will allow us to diversify our portfolio and tap into a burgeoning market, both domestically and internationally,” he added.

Founded in 2008, the Mumbai-based Sky Gold works on business-to-business model with leading jewellery retailers like Malabar Gold, Joyalukkas, Kalyan Jewellers, Senco Gold among others.