The company’s sales reached to Rs 50.48 crore in FY24, compared to Rs 28.67 crore in the preceding year
Bengaluru: Fashion jewellery brand Gargi by PNGS has reported an increase in annual sales, up 76.07% to Rs 50.48 crore in the fiscal year (FY) 2024, compared to Rs 28.67 crore in the preceding year, the company said in a press release on Friday.
Gargi also experienced a rise in its net profit by 80.38% to Rs 8.46 crore for the year ended March 2024, compared to Rs 4.69 crore in the previous year.
“We are thrilled to witness such remarkable growth in sales and net profit, which reflects the dedication and hard work of our team, as well as the trust and support of our customers. These results underscore our commitment to delivering exceptional products and experiences,” said Aditya Modak, co-founder of Gargi by PNGS.
For the last quarter ending March 2024, the company showed a growth rate of 116.93% and achieved sales of Rs 15.38 crore. The quarter also witnessed an increase in net profit, which soared by 74.07% to Rs 2.35 crore compared to the previous quarter ended March 2023, when it stood at Rs 1.35 crore.
Gargi boasts a portfolio of over 15,000 stock keeping units (SKUs) and experienced growth in its first year, with a 6 times increase in revenue. The company has a footprint spanning 18 stores across ten metro cities and six states.
