Gems & Jewellery company Thangamayil Jewellery announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Reported Rs 1,178 crore sales the highest achieved by the company in the second quarter of any year. The company incurred a net loss before taxes of Rs 23.55 crore in the quarter as against Rs 12.26 crore PBT in the quarter of previous year. The reduction in PBT is due to the following factors: Better realisation on sales made in the month of September resulted on account of increase in steep gold price gain of Rs 4.94 crore. Under recovery on account of adverse gold price movement witnessed in post significant import duty reduction on the sales made in the second quarter of current year of Rs 15.47 crore. Additional hedging derivate loss amounting to Rs 9.00 crore incurred in the current quarter. Increase in salaries cost by Rs 6.35 crore, advertisement and publicity by Rs 7.45 crore and other expenses by Rs 2.48 crore aggregating to Rs 16.28 crore mainly caused by additional spending necessitated in fresh recruitment and training and for improved brand visibility in the new locations to be opened in Chennai and surroundings outlets. All these factors cumulatively resulted in Net loss before tax of Rs 23.55 crore as against Net profit before tax of Rs 12.26 crore net impact of Rs 35.81 crore. H1FY25 Financial Highlights: Reported Rs 2,398 crore sales the highest achieved by the company in any half year so for. Adjusted Operating profits (PAT) of the company for the half year ended of Rs 85 crore as against of Rs 53 crore. During the half year, the company opened outlet at Rameswaram and Mayiladuthurai taking the total net retail outlets to 59. For the half year, hedging derivate loss of Rs 26.33 crore as against Rs 5.78 crore profits in the H1FY24 having a net impact of Rs 32.53 crore on account of hedging derivate. The expenditure has gone up from Rs 90.08 crore to Rs 120.68 crore, an increase of Rs 30.60 crore (as a 34% increase) due to staff strength increase and increased spending on advertisement and publicity and admin expenses necessitated for expected expansion of retail outlets in Chennai & surroundings locations around 4th Quarter of fiscal 2024-25 and thereafter. The increase in sales by 447.45 crore in the H1FY25 is 23%, the benefit of such growth is not fully reflected in the bottom line for the reasons stated above apart from the adverse contribution resulted due to reduction in import duty majorly accounted in the Q2FY25. Result PDF