Swarnsarita Gems Reports 535.47 Crore Net Profit in Q1
Swarnsarita Gems, a key player in the jewelry segment, announced unaudited Q1 financial results showing a significant turnaround. The company reported revenue from operations of 13,527.03 crore, total income of 13,661.83 crore, and a net profit of 535.47 crore. While slightly lower than the 567.69 crore profit in the same quarter last year, it marks a substantial recovery from the previous quarter's loss. Consolidated results, including its subsidiary, show a net profit of 555.56 crore and revenue from operations of 13,632.28 crore. The jewelry segment remains the main revenue driver. The results were reviewed by the Audit Committee and approved by the Board of Directors, complying with Indian Accounting Standards and SEBI regulations.
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Swarnsarita Gems , a prominent player in the jewelry segment, has announced its unaudited financial results for the first quarter. The company has reported a significant turnaround in its performance compared to the previous quarter.
Financial Highlights
| Metric | Value |
|---|---|
| Revenue from Operations | 13,527.03 crore |
| Total Income | 13,661.83 crore |
| Net Profit | 535.47 crore |
| Earnings Per Share | 2.56 rupees |
Comparative Performance
The company's performance shows a mixed trend when compared to the same quarter last year:
- The net profit of 535.47 crore this quarter is slightly lower than the 567.69 crore reported in the corresponding quarter of the previous year.
- However, it represents a significant recovery from the loss incurred in the immediately preceding quarter.
Consolidated Results
On a consolidated basis, which includes its wholly-owned subsidiary Swarnsarita Trading Private Limited, the company reported:
| Metric | Value |
|---|---|
| Consolidated Net Profit | 555.56 crore |
| Consolidated Revenue from Operations | 13,632.28 crore |
Segment Performance
Swarnsarita Gems operates primarily in the jewelry segment, with some trading activities. The jewelry segment continues to be the main revenue driver for the company.
Board Approval and Audit Review
The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) and comply with the requirements of SEBI regulations.
Conclusion
Swarnsarita Gems' quarterly results demonstrate a strong recovery from the previous quarter's loss, indicating improved operational efficiency and market performance. The company's ability to maintain profitability close to last year's levels reflects its resilience in the jewelry sector.
Historical Stock Returns for Swarnsarita Gems
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.84% | +5.13% | -3.66% | +26.75% | -41.29% | +403.09% |
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