PC Jeweller reported a 28 per cent increase in its consolidated net profit at Rs 190.10 crore in the quarter ended December, mainly on festive demand.
Shares of PC Jeweller are in focus today as the company has informed exchanges about the allotment of 51,24,68,600 equity shares on conversion of fully convertible warrants. The stock opened in green at Rs 10.67 against the previous close of Rs 10.65. However, the stock tumbled amid profit booking and a drop in prices of precious metals. The stock touched a low of Rs 10.58. Last seen, the stock was trading at Rs 10.49 and the market cap of the company stood at Rs 7,687.59.
Earlier, PC Jeweller reported a 28 per cent increase in its consolidated net profit at Rs 190.10 crore in the quarter ended December, mainly on festive demand.
Its net profit stood at Rs 147.96 crore in the year-ago period.
Total income grew to Rs 900.51 crore in the October-December period of this fiscal from Rs 683.44 crore in the corresponding period of the preceding year, according to a regulatory filing.
PC Jeweller MD Balram Garg said the company has posted a resilient operational performance in the third quarter of this fiscal, “driven by continued consumer demand during the festive and wedding season.”
On the balance sheet front, he said the company continues to make steady progress towards its stated objective of becoming debt-free.
“Since the execution of the settlement agreement with banks on 30 September 2024, the company has reduced its outstanding debt by approximately 68 per cent, reflecting a significant improvement in its financial position and reaffirming management’s focus on financial discipline and deleveraging,” Garg said.
The company remains focused on strengthening core operations, expanding retail presence through owned and franchise formats, he added.
During the first nine months of this fiscal, PC Jeweller’s net profit rose to Rs 561.57 crore from Rs 482.92 crore in the year-ago period.
Total income rose to Rs 2,603.32 crore during the April-December period of this fiscal from Rs 1,671.77 crore in the corresponding period of the preceding year.
PC Jeweller is one of the leading jewellery firms in the country. It has around 50 physical stores across 12 states.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
