Renaissance Jewellery zooms 20% on robust Q2 results

The stock locked in upper circuit of 20% at Rs 275 on the BSE after the company reported more than doubled net profit at Rs 16.9 crore in Q2FY18

Renaissance Jewellery was locked in upper circuit of 20% at Rs 275 on the BSE after the company reported more than doubled net profit at Rs 16.9 crore in September quarter (Q2FY18). It had profit of Rs 7.4 crore in the same quarter year ago.

Revenue of the company grew 34% at Rs 384 crore against Rs 286 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation and amortization) margin improved to 6.94% from 5.6% in previous year quarter.

For the first half (April to September) of the current financial year 2017-18 (FY18),