Brands
PN Gadgil Jewellers posts 52 per cent rise in Q1 profit on strong sales
Revenue jumps 41 per cent to Rs 2,413 crore as jewellery demand stays robust
MUMBAI: The tills kept ringing and the gold kept glittering as PN Gadgil Jewellers started the financial year with a sparkle. The jewellery retailer reported a 52 per cent year-on-year rise in consolidated net profit for the quarter ended 30 June 2026, driven by robust sales growth and sustained consumer demand.
PN Gadgil Jewellers Ltd posted a profit after tax of Rs 105.3 crore, up from Rs 69.3 crore in the corresponding quarter last year. Revenue from operations climbed 40.7 per cent to Rs 2,413 crore, compared with Rs 1,714.6 crore a year earlier.
Including other income of Rs 10 crore, the company’s total income rose to Rs 2,423 crore, against Rs 1,727.4 crore in the year-ago period.
The strong top-line performance translated into improved profitability despite higher operating costs. Profit before tax increased to Rs 140.6 crore, up from Rs 92.7 crore in the corresponding quarter last year, reflecting growth of nearly 52 per cent.
The company’s total expenses rose to Rs 2,282.4 crore from Rs 1,634.7 crore, largely in line with higher business volumes.
The biggest component of expenditure, cost of materials consumed, increased to Rs 2,093.3 crore from Rs 1,488.7 crore, mirroring higher jewellery sales. Employee benefit expenses rose to Rs 51.6 crore from Rs 34.5 crore, while finance costs climbed to Rs 34.1 crore from Rs 18.9 crore. Depreciation and amortisation stood at Rs 17.8 crore, compared with Rs 11.2 crore a year earlier.
After accounting for taxes of Rs 35.3 crore, the company reported total comprehensive income of Rs 105.4 crore, up from Rs 69.2 crore in the corresponding quarter of FY26.
The retailer also delivered an improvement in shareholder returns, with basic and diluted earnings per share rising to Rs 7.76, compared with Rs 5.11 in the same quarter last year.
The latest results indicate that demand for organised jewellery retail remained resilient during the quarter, helping PN Gadgil Jewellers deliver double-digit growth in both revenue and profitability despite rising input and financing costs. The performance reinforces the sector’s momentum as branded jewellers continue to benefit from formalisation, consumer trust and sustained appetite for gold jewellery.
