Kenvi Jewels Reports 32% Revenue Growth in Q1
Kenvi Jewels Limited announced strong Q1 results with revenue from operations increasing 32% to Rs 3,089.18 lakhs. Total income rose to Rs 3,089.21 lakhs, up 32% year-over-year. Net profit grew 17.7% to Rs 18.71 lakhs. The company maintained its EPS at Rs 0.01. Total expenses were Rs 3,064.50 lakhs, with material costs being the largest component at Rs 3,151.18 lakhs. The audit committee reviewed and the Board of Directors approved these unaudited financial results.
*this image is generated using AI for illustrative purposes only.
Kenvi Jewels Limited , a prominent player in the jewelry sector, has announced its financial results for the first quarter, showcasing robust growth and improved profitability.
Financial Highlights
The company reported a significant increase in its revenue from operations, which rose to Rs 3,089.18 lakhs, marking a 32% growth compared to Rs 2,339.91 lakhs in the same quarter of the previous year. This substantial growth in revenue underscores the company's strong market position and effective business strategies.
Kenvi Jewels' total income for the quarter stood at Rs 3,089.21 lakhs, up from Rs 2,339.94 lakhs year-over-year, reflecting a similar 32% increase. This growth in total income aligns with the rise in revenue from operations, indicating consistent performance across the company's business activities.
Profitability and Expenses
The company's net profit increased to Rs 18.71 lakhs, compared to Rs 15.90 lakhs in the corresponding quarter of the previous year, representing a 17.7% growth. This improvement in profitability demonstrates the company's ability to effectively manage costs while driving revenue growth.
Total expenses for the quarter were reported at Rs 3,064.50 lakhs, with the cost of materials consumed being the largest component at Rs 3,151.18 lakhs. The company managed to improve its profitability despite the increase in material costs, suggesting efficient cost management in other areas of operations.
Key Financial Metrics
| Particulars (in Lakhs) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue from Operations | 3,089.18 | 2,339.91 | 32.0% |
| Total Income | 3,089.21 | 2,339.94 | 32.0% |
| Net Profit | 18.71 | 15.90 | 17.7% |
| Basic EPS (in Rs) | 0.01 | 0.01 | 0.0% |
The company's basic and diluted earnings per share (EPS) remained steady at Rs 0.01, consistent with the previous year. The paid-up equity share capital stood at Rs 1,263.80 lakhs, unchanged from the previous period.
Management Commentary and Audit Review
The financial results were reviewed by the audit committee and approved by the Board of Directors at their meeting. The meeting, which commenced at 02:00 p.m. and concluded at 03:30 p.m., also saw the board approving the unaudited financial results for the quarter.
AKGVG & Associates, the company's independent auditors, conducted a limited review of the financial results. In their report, they stated that nothing has come to their attention that causes them to believe that the financial statements are not prepared in accordance with applicable accounting standards and SEBI regulations.
Conclusion
Kenvi Jewels Limited's quarterly results demonstrate the company's ability to achieve substantial revenue growth while maintaining profitability. The 32% increase in revenue, coupled with a 17.7% rise in net profit, positions the company well for continued success in the jewelry market. As the company moves forward, investors and stakeholders will likely keep a close eye on its ability to sustain this growth trajectory and manage costs effectively in the face of fluctuating material prices.
Historical Stock Returns for Kenvi Jewels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.50% | -2.50% | -20.41% | -30.15% | -52.15% | -98.03% |
16
