PN Gadgil Q3 biz update | Biggest single-day festive gain on Dhanteras, e-commerce operations surge 138%

Shares of PN Gadgil Jewellers Ltd. declined over 2% on Thursday, January 8, after the company reported its business update for the third quarter.

Its retail segment recorded a 46% growth in the December quarter. Its consolidated revenue growth was at 35.6% in the third quarter compared to the same period last year.

The company's e-commerce business operations surged by 138% compared to the previous year and contributed 5.1% to the total revenue.

PN Gadgil's same store sales growth (SSSG) was at 32%. It launched three exclusive co-owned outlets and it total store count now stands at 66.

The company registered a revenue of ₹277 crore on Dhanteras,

marking its highest-ever single-day festive sale. It recorded a 64% increase in sales on Dussehra at ₹190 crore.

PN Gadgil said the December quarter growth was primarily driven by strong festive and wedding season demand.

It added that 12 to 14 new openings are planned in the fourth quarter. It is targeting 78-80 stores by the end of this fiscal year.

The stock was down 1.3% at ₹631.6. The stock has gained 5% in the past month.

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