 "PC Jeweller hits 52-week high on staging turnaround in Q1; revenue up 158% | News on Markets")
Traditional Indian jewellery is getting a makeover. (File photo)
Shares of PC Jeweller surged up to 4.42 per cent, hitting its 52-week high at Rs 99.46, a piece on the BSE in intraday deals. The stock price jumped after the company on Wednesday reported a turnaround in its net profits in the April-June quarter of financial year 2024-25 (Q1FY25).
For the first quarter of FY25, revenue from operations stood at Rs 401 crore, marking a 158 per cent increase from Rs 67 crore in Q1FY24. The company’s profit after tax (PAT) reached Rs 155 crore, a significant reversal from a loss of Rs 173 crore in the same period last year.
Earnings before interest, taxes, depreciation, and amortisation (Ebitda) for June quarter stood at Rs 89 crore, compared to a negative of Rs 42 crore in Q1FY24, indicating a positive shift of Rs 131 crore.
“The Q1FY25 has been a turnaround quarter for the company. The company has started regaining its customer trust and goodwill which has resulted in an exponential growth in its topline and profitability, the management said in an exchange filing.
The company also informed that it has received its shareholders approval to raise funds to the tune of Rs 2705.14 crore by preferential issue of fully convertible warrants. These funds will be utilised towards repayment of bankers outstanding debt as well as meeting its working capital requirements as well as general corporate purposes.
PC Jeweller has a total market capitalisation of Rs 4,443.68 crore. The share price of the company has zoomed 89.8 per cent year to date, while it has gained 252.6 per cent in the last one year
At 01:10 PM; the stock price of the company was trading 0.78 per cent higher at Rs 95.48 per share on the BSE. By comparison the BSE Sensex surged by 0.28 per cent at 79,174 levels.
PC Jeweller offers a diverse range of products, including gold jewellery, diamond jewellery, and other types of jewellery, with a particular focus on diamond jewellery and wedding-related pieces.
First Published: Aug 14 2024 | 1:20 PM IST
