Jewellery stock jumps 10% after reporting 167% QoQ increase in net profit

Synopsis:

Motisons Jewellers jumped sharply after its Q2 net profit jumped 106% YoY and 167% QoQ to Rs 21 crore. Revenue fell 17% YoY but improved 14% QoQ, while expenses dropped sharply, boosting margins.

The shares of this leading company engaged in the selling of gold, diamond and kundan jewellery as well as other jewellery products are in focus after reporting a stellar Q2 performance. In this article, we will dive more into the details.

With a market capitalisation of Rs 1,650 crore, the shares of Motisons Jewellers Ltd reached a day’s high of Rs 18.06 per share, up 10 percent from its previous day’s closing price of Rs 16.45 per share. In the last one year, the stock has corrected by over 37 percent, underperforming NIFTY 50’s return of 10 percent.

Q2 Highlights

Motisons Jew