PC Jeweller reports Q2 net loss of Rs 76 crore
Leading jewellery retailer PC Jeweller reported a Q2 net loss of Rs 76 crore ($10 million) for the quarter ended September 2021, as against a net loss of Rs 48 crore in the corresponding quarter a year ago.
The company’s total income for the quarter surged 50 percent to Rs 562 crore, as against Rs 376 crore in the same period last year.
“Though the impact of second wave of Covid-19 had started declining marginally in Q2, the company continued to face the headwinds of the pandemic. The impact of the localized lockdowns continued to be felt right through July and August. The last eleven days of September month were marked by shradh which is considered as an inauspicious period and purchases are avoided by the consumers,” PC Jeweller said on its Q2 results.
“However, with increasing vaccination and decline in the cases, the operating environment and consumer sentiments have shown an improvement in the festive and wedding season beginning in Q3,” it added.
The New Delhi-based PC Jeweller currently has around 73 company-owned and 11 franchise stores across the country.
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