Senco Gold Ltd. saw its shares drop over 3% after releasing its Q2 business update, even as the company reported solid growth across key segments. As of 9:32 AM, the shares were trading 3.89% lower at Rs 326.30.
In the second quarter, Senco Gold’s revenue rose by 6.5%, while the first half of the financial year saw total revenue growth of 17.8%. Same-store sales were up 7.5% during this period, and the retail business grew 16% in H1.
Diamond jewellery sales continued to shine, posting 12% growth in Q2 and a 31% value growth for the first half, with volumes up 14%. Silver sales saw an impressive jump of 54% in the same period.
Looking ahead, Senco Gold expects demand to peak in the third quarter, driven by major festivals like Dhanteras and Diwali, as well as the wedding season. The company remains optimistic for the rest of the financial year, projecting overall topline growth of 18-20%.
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