Manoj Vaibhav Gems N Jewellers Declares Q3 Results: Details Here

The financial numbers of Manoj Vaibhav Gems N Jewellers for the quarter that ended on December 31, 2023, have been released. Manoj Vaibhav Gems 'N' Jewellers' net profit dropped by 24.07% to Rs 18.96 crore in the quarter that ended in December 2023 from Rs 24.97 crore in the quarter that ended in December 2022. In the quarter that ended in December 2023, sales dipped 2.85% to Rs 475.10 crore from Rs 489.03 crore in the quarter that ended in December 2022.

"The company has completed an Initial Public Offer ("IPO") of 12,567,441 equity shares at Face value of Rs 10 each at an issue price of Rs 215 per Equity Share, comprising Offer for Sale of 2,800,000 shares by a selling shareholder and a Fresh issue of 9,767,441 shares aggregating to Rs 2702 million. The Equity shares of the company were listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") on October 03, 2023," said Manoj Vaibhav Gems N Jewellers in a statement.

"The Company allotted 9,767,441 fresh equity shares having face value of Rs 10 each to public at a premium of Rs 205 per equity share. The total securities premium out of the "Fresh Issue" is Rs 2002.33 million. The share of estimated IPO related expenses relating to "Fresh Issue" of Rs 206.62 million will be adjusted against the securities premium," Manoj Vaibhav Gems N Jewellers further stated.

According to the company, the other income for the quarter and nine months period ended Dec 31, 2023 consists of interest income of Rs 31.72 million from unutilized IPO proceeds.

On Tuesday, the shares of Manoj Vaibhav Gems N Jewellers were trading on the NSE at Rs 268.50 apiece while writing the copy.