DP Abhushan Limited announces strong financial results

DP Abhushan Limited (NSE:  DPABHUSHAN) has reported jump of 152% in consolidated revenue and 46% in its net profit after tax for the fourth quarter ended on 31^st 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 09^th June. The consolidated revenue for year ended March 2021 was Rs. 1218 crore as compared to 809 crore in previous year. Similarly, consolidated revenue for the fourth quarter ended on March 2021 was Rs. 590 crore as compared to 234 crore for the same quarter of previous year 19-20.

The consolidated net profit after tax for the year ended March 2021 was Rs. 27.40 Crore as compared to 16.67 crore for the previous year. Similarly net profit after tax for the fourth quarter ended on March 2021 was 8.28 crore as compared to 5.66 core in fourth quarter of March 2020.

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.

The company has total seven showrooms out which three show rooms were opened in the second half of financial year 2020-21. 

Courtesy: Retail Jeweller India News Service