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The Madurai-based Thangamayil Jewellery Ltd has reported a marginal drop in net profit at ₹57 crore in the first quarter ended June 30, 2024, as against ₹59 crore in the same previous quarter. Revenue in the first quarter jumped 27 per cent to a record ₹1,220 crore, as against ₹959 crore in the same quarter last year.
The revenue recorded was the highest ever for a single quarter.
During the June quarter, MCX lost ₹18.20 crore as against a profit of ₹5 crore last year, which affected Profit Before Tax by ₹23.20 crore, due to elevated gold prices. Expenditure increased to ₹54 crore (₹43 crore) due to staff additions and an increase in promotional expenses, the company said.
During the quarter, the company opened retail outlets at Rameshwaram and Mayiladuthurai, taking the total number of outlets to 59.
On the NSE, the company’s share price closed at ₹1,768, down by 0.60 per cent.
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