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Gems and jewelry firm Manoj Vaiibhav Gems N Jewellers has introduced its earnings for the July – September quarter of FY2024.
The corporate, which went public within the first week of October, has reported a internet revenue of Rs 22.1 crore within the quarter that ended on September 30, 2023.
The corporate had clocked a internet revenue of Rs 20.04 crore within the year-ago interval and Rs 19.2 crore within the previous quarter.
The corporate stated that its complete earnings got here in at slightly over Rs 620 crore within the quarter as in opposition to Rs 556.7 crore reported in the identical interval of the final monetary yr.
The full earnings of the corporate rose to Rs 590 crore within the second quarter from Rs 529 crore reported within the year-ago quarter.
Shares of Manoj Vaibhav Gems N Jewellers on Monday hit a brand new 52-week excessive of Rs 335.40 on BSE. It closed with features of Rs 3.50 per cent at Rs 332.35. With this, the corporate’s market cap stood at Rs 1,623.44 crore.
Manoj Vaibhav Gems N Jewellers had launched its IPO earlier this yr. The inventory of the regional jewelry model is listed on the Bombay Inventory Change (BSE) at its situation worth of Rs 215. It was listed at an analogous worth on the Nationwide Inventory Change (NSE).
Andhra Pradesh-based Manoj Vaibhav Gems N Jewellers offers in gold, silver, and diamond jewelry, and associated merchandise comparable to valuable gems, by on-line and offline modes. Its IPO was subscribed 2.25 instances. The corporate had stated that it will make the most of the proceeds to finance the institution of the proposed 8 new showrooms and different company actions. It operates greater than a dozen showrooms.
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