This jewellery company zooms after reporting a 289% jump in profit for Q4!
Amidst the sizzling financial season, Thangamayil Jewellery Limited reports impressive results and announces dividends.
In comparison to the same quarter last year, the company's net profit for the fourth quarter which ended on March 31, 2023, increased by 288.85% to Rs 31.03 crore from Rs 7.98 crore. In Q4FY23, the company's total net revenue increased by 26.68% from Rs 609.04 crore to Rs 771.54 crore in a similar quarter the year prior.
The company reported a 106.85% increase in net profit for the year ended March 31, 2023, from Rs 38.55 crore to Rs 79.74 crore. When compared to the year ended March 31, 2022, the company's net revenue increased marginally by 43.79% to Rs 3,155.90 crore from Rs 2,194.75 crore in the year prior ended on March 31, 2022.
About the Dividend
A final dividend of Rs 6 per equity share which has a face value of Rs 10 has been recommended by the board which is 60%, subject to approval by shareholders at the following Annual General Meeting. In February 2023, an interim dividend of Rs 6 per equity share was already given.
Share Price Movement
In the last trading session script was closed at Rs 1134.85. Today it opened at Rs 1175.90 and touched a high of Rs 1326.10 and a low of Rs 1147.05. It was closed at Rs 1174.95 up by 3.53%, a total of 11,997 shares were traded over the counter at BSE.
The BSE group 'B' stock has a market cap of around Rs 1,600 crore and it had a 52-week high of Rs 1350 and it has a 52-week low of Rs 926.50.
Thangamayil Jewellery Limited operates a chain of retail jewellery stores across several districts in Tamil Nadu, a state that has the largest share (40%) of India's total gold consumption. The company primarily deals with four product lines, i.e., Gold, Silver, Diamonds and Platinum; the sale of gold being a predominant source of its income. Thangamayil Jewellery has also established four manufacturing units that employ in-house goldsmiths to craft designer jewellery, which are in vogue with the current trends in the marketplace.
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