D P Abhushan registers robust Q4 result as gold demand surges as an investment option during Covid

The consolidated net profit after tax for the year ended March 2021 was Rs27.40cr as compared to 16.67cr for the previous year.

Jun 11, 2021 10:06 IST India Infoline News Service

D.P. Abhushan Limited has reported jump of 152% in consolidated revenue and 46% in its net profit after tax for the fourth quarter ended on 31st March 2021 as compared to same quarter of previous financial year 19-20.

Similarly Company has reported record growth of 64% in consolidated net profit after tax and 51 % in revenue for the full financial year 20-21 as compared to the previous financial year 19-20.

Vikas Kataria Chairman and MD of the company has attributed this robust performance partially to the renewed demand surged in gold jewellery as an investment option in the difficult time of covid pandemic and partially to. the company's competitive pricing, quality and it's an 80 year old brand "D.P. Jewellers".

The company has announced its financial results on Wednesday 9th June. The consolidated revenue for year ended March 2021 was Rs1218cr as compared to 809cr in previous year. Similarly, consolidated revenue for the fourth quarter ended on March 2021 was Rs590cr as compared to 234cr for the same quarter of previous year 19-20.

The consolidated net profit after tax for the year ended March 2021 was Rs27.40cr as compared to 16.67cr for the previous year. Similarly net profit after tax for the fourth quart~r ended on March 2021 was 8.28cr as compared to 5.66 core in fourth quarter of March 2Q20.

During the year, company has incorporated wholly owned subsidiary company for carrying out business of jewellery on e-commerce platform to cater the small ticket size of jewellery and gift products made out of gold, diamond and silver. The e-commerce business is yet to be operationalized.

At around 10:05 AM, the stocks were trading at Rs158.70 per share down by 1.61% on NSE.

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