PC Jeweller net profit declines 15 percent to Rs 138 crore
today Feb 11, 2019
PC Jeweller witnessed a 15 percent fall in its net profit in the quarter ended December 2018 to Rs 138 crore as against Rs 163 crore it had posted during the corresponding quarter last fiscal.
The fall in profit was mainly due to de-growth in the export business which led to a decrease in the overall turnover of the company.
The sales revenue dropped by 20 percent to Rs 2119 crore in the quarter ended December 2018 as against Rs 2645 crore during the previous quarter ended December 2017.
Commenting on the results, Sanjeev Bhatia, chief financial officer of the company said, “The profitability margins of the company have shown improvement on account of higher contribution of domestic business to overall sales. Any decline in the absolute numbers is only account of a de-growth in the export business and hence overall turnover.
"The Company's domestic turnover during the quarter has increased by 3% and it has managed to almost wipe off de-growth experienced in its domestic business in Q2. The domestic margins continue to remain stable."
PC Jeweller is one of India’s leading jewellery firms that manufactures and sells gold, diamond and silver jewellery. Established in 2005, PC Jeweller currently has over 100 showrooms across 67 cities and 20 states.
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