Manoj Vaibhav Gems N Jewellers opens new store in Telangana

Manoj Vaibhav Gems N Jewellers has informed exchanges that it has opened a new store in Telangana. "We hereby inform that the Company is going to launch a new Jewellery Store in the brand name of “Vaibhav Jewellers” at Ganga Reddy Road, Mancherial, Telangana," the company said in an exchange filing.

The share of the company was listed on the bourses on October 3 at its issue price of Rs 215 on the Bombay Stock Exchange (BSE). It was listed at a similar price on the National Stock Exchange (NSE).

Earlier, Manoj Vaibhav Gems N Jewellers, a regional jewellery brand in South India, announced its results for the third quarter of 2023. According to the exchange filing, its revenue from operations in the quarter ended December 31, 2023 was Rs 475.1 crore as compared to Rs 489 crore in the corresponding quarter last year. 

Its net profit dropped by 24.07 per cent to Rs 18.96 crore in the Q3 FY24 from Rs 24.97 crore in the quarter that ended in December 2022.