PC Jeweller’s shares reached a 52-week high of Rs 99.46 on the BSE, rising 4.42% in intraday trading following the company’s impressive Q1FY25 financial results.
The jewelry retailer reported a substantial turnaround in its performance for the April-June quarter of the 2024-25 financial year.
According to a report by Business Standard, the company’s revenue from operations surged by 158% to Rs 401 crore, compared to Rs 67 crore in the same quarter last year.
PC Jeweller posted a profit after tax of Rs 155 crore, reversing the Rs 173 crore loss recorded in Q1FY24.
EBITDA also significantly improved, reaching Rs 89 crore against a negative Rs 42 crore in the previous year’s corresponding quarter.
Per the report, management attributed this turnaround to regaining customer trust and goodwill, which they say has driven top-line growth and profitability.
In a strategic move, PC Jeweller has secured shareholder approval to raise Rs 2,705.14 crore through a preferential issue of fully convertible warrants.
The company plans to use these funds to repay outstanding bank debt, meet working capital requirements, and for general corporate purposes.
The report stated that the stock has shown remarkable performance, with an 89.8% increase year-to-date and a 252.6% gain over the past year.
As of 1:10 PM, PC Jeweller’s shares were trading at Rs 95.48, up 0.78% on the BSE, while the Sensex rose 0.28% to 79,174 levels.
Known for its diverse product range, including gold and diamond jewelry, PC Jeweller currently has a market capitalization of Rs 4,443.68 crore.
The company’s focus on diamond jewelry and wedding-related pieces is a key part of its market strategy.
