Thangamayil Jewellery's Profit Surge Amid Gold Market Fluctuations

Thangamayil Jewellery Ltd announced a substantial increase in its net profit for the March quarter, achieving Rs 142.66 crore, a 4.5 times rise from the previous year's Rs 31.40 crore. This growth is attributed to improved income and rising gold and silver prices.

Total income more than doubled to Rs 2,839.17 crore during January-March 2025, compared to the preceding year's same period. The fiscal year 2025-26 saw net profit jump to Rs 351.65 crore, with total income rising to Rs 8,513.75 crore.

The company highlighted potential challenges ahead due to the government's decision to increase import duties on gold and silver, which could affect demand. Thangamayil noted a shift in customer behavior toward exchanging gold for new jewelry, with such transactions now making up 50-60% of sales.

(With inputs from agencies.)