Thangamayil Jewellery Ltd Q4 net profit jumps to Rs 31 crore

By

Maverick Martins

Published
May 23, 2023

Thangamayil Jewellery Ltd witnessed a 289 percent increase in net profit to Rs 31 crore ($3.8 million) for the fourth quarter ended March 2023, as against Rs 8 crore in the year-ago period.

The company’s total income rose by 27 percent to Rs 772 crore, as against Rs 609 crore posted in the corresponding period of the fiscal year 2022.

For the full financial year, the company reported a total income of Rs 3,156 crore with a net profit of Rs 80 crore.

The company has been on an expansion spree post the pandemic and opened 5 new jewellery retail outlets during the financial year.

Thangamayil plans to focus on diamond and silver jewellery going forward to boost its margins. It currently generates majority of its sales from gold jewellery.

Thangamayil Jewellery Ltd manufactures, retails gold, silver, and diamond jewellery. The company currently has 53 retail outlets in the southern state of Tamil Nadu.