P C Jeweller Reports Major Financial Turnaround in Q1 FY2025

P C Jeweller Ltd reported a consolidated net profit of Rs 156.06 crore for the quarter ended June, reversing a net loss of Rs 171.62 crore from the previous year. The company's total income soared to Rs 439.78 crore, marking a significant recovery. Key approvals from banks and shareholders are aiding this revival.

P C Jeweller Ltd has announced a remarkable turnaround for the quarter ended June, posting a consolidated net profit of Rs 156.06 crore. This marks a reversal from a net loss of Rs 171.62 crore reported in the same period the previous year.

Total income for the company surged over fivefold to Rs 439.78 crore during the April-June period, compared to Rs 72.61 crore in the corresponding period of the previous fiscal. This uptick is attributed to regaining customer trust and goodwill, which fueled growth in both topline and profitability.

In regulatory filings, P C Jeweller revealed its progress in settling debts with the consortium of 14 banks, with 12 banks already giving in-principle approval for the settlement offer. Additionally, the company received shareholder approval to raise Rs 2,705.14 crore for debt repayment and working capital needs. With 57 showrooms in 42 cities across India, P C Jeweller is optimistic about its future.

(With inputs from agencies.)