PC Jeweller Limited’s consolidated profit after tax rose 57.8% year over year to ₹330.66 crore in the September quarter, as the company plans as many as 100 showrooms after repaying its 14-bank consortium debt.
For the three months ended Sept. 30, revenue from operations totaled ₹1,054.47 crore, compared with ₹825.25 crore a year earlier. The board approved the unaudited results on Oct. 21.
A separate company-defined measure, operating profit after tax (PAT), came in at ₹299 crore, versus ₹144 crore in the prior-year period. PC Jeweller calculates that measure without other income, making it distinct from reported profit after tax. The company cited healthy consumer demand as a factor in the quarter’s performance.
PC Jeweller said it cleared its remaining consortium borrowings on Sept. 25, ahead of the due dates set under a settlement agreement dated Sept. 30, 2024. Earlier EconoTimes coverage of the repayment reported on the debt clearance. The company expects interest costs to fall significantly from the second half of FY27 and said the reduction would benefit net profit, but gave no estimate of the savings.
The retailer’s expansion plan calls for as many as 100 large-format outlets in Tier I, II and III cities over the coming 12 to 18 months, combining company-owned locations with franchises. PC Jeweller has described the franchise model as an asset-light part of its expansion. It expects to begin establishing the showrooms in FY27.
The company is also developing a jewellery brand for younger consumers and people buying for themselves. The planned range includes demi-fine and lightweight pieces, as well as fine jewellery featuring lab-grown diamonds.
Reuters reported that PC Jeweller shares rose as much as 8.6% during the session, reaching a level last seen in May 2018. At 11:50 p.m. ET on Oct. 21, the shares were at ₹19.20, up 4.1%, Reuters reported.
PC Jeweller said it received about ₹142 crore from export debtors during the quarter. The limited-review report did not modify its conclusion, but drew attention to export receivables and management’s estimate of potential credit losses on outstanding export balances.
