Khazanchi Jewellers Ltd Q3 net profit jumps 113 percent to Rs 12 crore

Khazanchi Jewellers Limited reported a 113 percent surge in net profit to Rs 12 crore ($1.4 million) for the third quarter ended December 2024, as against Rs 6 crore in the year ago quarter.

The company’s revenue for the quarter rose by 90 percent to Rs 394 crore, as against Rs 208 crore in the corresponding quarter of the previous fiscal year.

Commenting on the results, Rajesh Kumar, joint managing director of Khazanchi Jewellers in a statement said, “We are delighted to report a strong financial performance in Q3 FY25, driven by robust revenue growth and enhanced profitability. The festive season, beginning in September, significantly boosted gold consumption, leading to a sharp increase in our sales. Additionally, the rising demand for gold, coupled with an increase in gold prices, has positively impacted our revenue.”

“With an expanding showroom network and enhanced operational capabilities, we anticipate a notable rise in consumer spending. Additionally, recent policy measures, including RBI’s rate cut and revisions in income tax slabs, are expected to drive higher discretionary spending, contributing to our sales growth and profitability in the coming quarters,” he added.

Chennai-based Khazanchi Jewellers is a prominent player in the Indian jewellery industry offering in a wide range of products in gold, diamonds, and precious stones.