India's Thangamayil Jewellery slides for second day as Q1 earnings miss expectations

Thangamayil Jewellery

30/07/2026 08:14

** India's Thangamayil Jewellery THNG.NS drops exchange-allowed maximum 10% for a second day after quarterly results
** Hits three-week low of 5,807 rupees
** Co on Wednesday reported ~71% year-on-year jump in Q1 revenue, while profit also soared 77%
** The company's industry-leading revenue growth still fell 9% short of Equirus' expectations due to Tamil Nadu elections and Middle East conflict, brokerage firm says
** Equirus adds that higher discounting amid weak demand and  rising contribution from customer savings, and gold-exchange programme drove a 171 basis points sequential decline in gross margins
** YTD, THNG up 80.2%

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com;))