The company recently reported a 17 per cent increase in its consolidated net profit to Rs 209.54 crore for the quarter ended September.
Delhi-based PC Jeweller has informed exchanges that the company’s board has, through a resolution passed in circulation, allotted 17,56,260 equity shares to Hawk Capital Pvt Ltd on conversion of 1,75,626 warrants. These shares have been issued to a non-promoter public category investor. Earlier, the company had stated in its exchange filing that it had earlier issued a total of 48,08,02,500 fully convertible warrants through preferential allotment to promoter group and non-promoter (public category) investors.
Reduce Debt
The company recently announced in another exchange filing that it had further reduced its debt to banks by 23 per cent in the previous quarter. The company stated that this reduction was in accordance with the terms of the settlement agreement. This new step follows debt reduction of 9 per cent in the first quarter of FY2025-26 and over 50 per cent in the previous fiscal year.
The company further stated that its target is to become debt-free by the end of FY2025-26.
The company has also focused on expanding its retail network. As part of this strategy, PC Jeweller has opened a new franchise-owned showroom in Pitampura, Delhi. The company stated that it is expanding its retail reach through a mix of owned and franchised stores.
Q2 profit rises
The company recently reported a 17 per cent increase in its consolidated net profit to Rs 209.54 crore for the quarter ended September. Its net profit stood at Rs 178.88 crore in the year-ago period.
Total income grew 63 per cent to Rs 894.93 crore in the second quarter of this fiscal from Rs 548.54 crore in the corresponding period of the preceding year, according to a regulatory filing.
“The company’s Operating profit after tax (PAT), which is PAT minus Income Tax refund and Interest on the same, has almost doubled to Rs 202.5 crore from Rs 102 crore during the period under review.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
