Gargi by PNGS reports 76.07% annual sales increase in FY24

Fine jewellery business PNGS Gargi Fashion Jewellery Limited reported a 76.07% increase in its annual sales during the 2024 financial year. The business also saw its net profits increase by 80.38% during the fiscal year and expects this upwards trajectory to continue into the 2025 financial year.

PNGS Gargi Fashion Jewellery Limited’s annual sales totalled Rs 50.48 crore in the 2024 financial year compared to Rs 28.67 crore in the 2023 fiscal, the business announced in a press release. The jewellery business also saw its net profits reach Rs 8.46 crore in the 2024 financial year, which ended on March 31, compared to Rs 4.69 crore in the previous financial year.
 
“We are thrilled to witness such remarkable growth in sales and net profit, which reflects the dedication and hard work of our team, as well as the trust and support of our customers,” said Gargi by PNGS’ co-founder Aditya Modak in a press release. “These results underscore our commitment to delivering exceptional products and experiences.”
 
PNGS Gargi Fashion Jewellery Limited experienced a particularly strong growth rate of 116.93% year-on-year during the fourth quarter of the 2024 financial year with sales touching Rs 15.38 crore. The quarter also saw a 74.07% increase in net profit to total Rs 2.35 crore compared to Rs 1.35 crore in the fourth quarter of the 2023 financial year.
 
The business attributes its growth to its “strategic initiatives and ability to adapt to evolving market dynamics,” according to its press release. PNGS Gargi Fashion Jewellery reported a quadruple increase in customer numbers and, now present offline in 10 Indian metros, is confident of continued growth in the 2025 financial year.