Net profit of Renaissance Global rose 3.59% to Rs 24.24 crore in the quarter ended June 2022 as against Rs 23.40 crore during the previous quarter ended June 2021. Sales rose 40.11% to Rs 573.77 crore in the quarter ended June 2022 as against Rs 409.50 crore during the previous quarter ended June 2021.

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Renaissance Global will hold a meeting of the Board of Directors of the Company on 8 August 2022.

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Renaissance Global announced that its direct-to-consumer (D2C) business posted revenue of Rs 40.7 crore in Q1 FY23 compared to Rs 25 crore in Q1 FY22, recording a growth of 62.9%.

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The D2C business had recorded revenues of Rs 25 crore in Q1 FY22.

Based on our estimates of a quarter's contribution to annual sales, our annual revenue run rate is at Rs 203.6 crore in Q1 FY23 vs. actual FY22 revenues of Rs 123.8 crore,” the company said in a statement.

It further stated that the direct-to-consumer business is a high EBITDA margin business with margins in the range of 20-22%. With the growing share of direct-to-consumer revenues to total revenues, the company is confident of its EBITDA margins showing an improving trend, going forward.

Renaissance Global is a global branded jewellery player. The company designs, manufactures, and supplies branded jewellery across key high-potential markets in USA, Canada, UK & Asia.

The company's consolidated net profit rose 39.33% to Rs 21.15 crore despite a 9.20% decline in sales to Rs 529.28 crore in Q4 FY22 over Q4 FY21.

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