PC Jewellers export profit jumps by over 100 crore rupees, domestic sales lift

PC Jewellers announced a 27% increase in its net income in this financial year’s previous quarter along with a rise in share prices.

PC Jewellers' last quarter's financial results are in and an increase in profit has been reported - PC Jewellers- Facebook

The previous quarter of the last financial year ended on June 30, and PC Jewellers have just announced their figures for that time period.

The luxury gold and diamond jewellery brand had a net profit of 135.83 crore rupees (approximately 20 million dollars) which was around 30 crore rupees (around five million dollars) more profit than that reported for this quarter in the previous financial year. This was also a net profit rise of 27.42 percent on the previous quarter’s figures according to a BSE filing.

Both domestic and international sales experienced a boost and revenue from sales in India rose to 1,382.55 crore rupees (around 208 million dollars) from 1,049.79 crore rupees (around 158 million dollars) last year. Moreover, income from exports rose to 735.99 crore rupees (approximately 111 million dollars) from 614.68 crore rupees (around 92 million dollars) the year before.

However, it must be noted that the quarter ended just before the GST was introduced and before that there was a hike in sales across the board in fashion and jewellery as consumers feared that the GST would cause increased prices.

Therefore, figures from the current quarter will determine how much of this profit increase was down to pre-GST shopping. Moreover, the brand had higher expenses for this quarter than for the same time last year.

PC Jewellers was founded in 1981 and opened its first flagship store in New Delhi in 2005. The brand currently has a presence in 79 showrooms across 62 cities and 18 states. The brand focuses on gold and diamond jewellery. The most recent showroom opened was in Bhiwani, Haryana this year. 

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