PC Jewellers Q2 Results: Net profit shoots up 58% to Rs 331 crore; company says it is now debt-free

The company had clocked a net profit of Rs 209.54 crore during July-September quarter of the previous year, according to a regulatory filing.

Total income rose 28 per cent to Rs 1,054.47 crore for the second quarter of this fiscal from Rs 825.25 crore a year ago.

Expenses remained higher at Rs 759.42 crore as against Rs 688.85 crore a year ago.

"A key milestone during the quarter was the company achieving debt-free status after repaying its outstanding dues to all 14 consortium banks ahead of schedule."

With interest costs expected to reduce significantly from the second half of FY27, the company expects its net profit to have a positive impact of the same, it added.

The company said it received remittances of about Rs 142 crore from export debtors during Q2 following negotiations and resolving of issues, marking the start of realisation of long-pending receivables.

PC Jewellers also announced the plan to roll out up to 100 large-format showrooms across Tier I, Tier II and Tier III cities over the next 12-18 months, as a mix of own as well as asset-light franchise model.

The company said it is "confident that it will start establishing new showrooms in this financial year itself."

It is also working on and planning to launch a new jewellery brand focusing on demi-fine/lightweight jewellery and lab-grown-diamond fine jewellery for younger and self-purchasing buyers, it added.

PC Jewellers Ltd has three subsidiary firms (Luxury Products Trendsetter, PC Jeweller Global FZCO and PCJ Gems & Jewellery) and one step-down subsidiary (PCJ Mining SARL).