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PC Jeweller Limited Q3FY13 Net Profit at Rs 66.90 cr


February 7, 2013: PC Jeweller Limited (PCJ), a leading jewellery house offering a wide range of products including gold jewellery, diamond jewellery and other jewellery products including silver articles, today announed their third quarter results of the financial year 2013.

The company has achieved a topline of Rs 2874.23 cr for the 9 months ending Dec 31, 2012, which consist of a domestic turnover of Rs 2102.83 cr and export turnover of Rs 771.40 cr. The comparative figures for the FY ended March 2012 were Rs 3041.92 cr, Rs 2039.49 cr and Rs 1002.44 cr respectively. The company has achieved a turnover of Rs 1018.53 cr in Q3, which consists of domestic turnover of Rs 852.34 cr and export sales of Rs 166.18 cr. The net profit for the third quarter stood at Rs 66.90 crore and for the nine months was Rs. 208.20 crore.

PCJ has earned an EBITA of Rs 114.32 cr during Q3., and the 9 month EBITA as on 31.12.12 is Rs 353.26 cr vis a vis an EBITA of Rs 356.09 cr as on 31.03.12.

The company is operating in both domestic as well as export segments. It has however taken a decision to concentrate on the domestic business, while retaining its export operations at the level achieved in March 2012. This is reflected in the overall percentage of the export turnover, which at 31.03.12 stands at 26.84% of the total turnover as against 32.95% as on 31.03.12.

PCJ has opened 6 new stores during the current fiscal. All of these stores were opened in the H1.

The company is one of the few jewellery units of the country which are working actively to shift the jewellery sales mix towards diamond jewellery. PCJ feels that the future lies in diamond jewellery and it will continue to concentrate on the same.  The company has augmenting its manufacturing and designing capabilities for diamond jewellery and is very confident that these capabilities would lead to sustainable growth  volumes as well as margins.

PCJ has been procuring its gold requirements on lease basis in past and will continue to do so. It has signed gold lease agreements with a number of nominated agencies and banks so that it continues to get uninterrupted supply of gold. The company procures loose cut and polished diamonds from a number of vendors in Surat & Mumbai.

PCJ believes that it enjoys an exclusive brand image and top of mind recall amongst the customers awareness for a pan India expansion. The company is associated with prestigious events like Filmfare Cine Awards for the past four years. This year it is also associated with Miss India Peagent.

The company’s retail presence is spread across locations in Metros, Tier I as well as Tier II towns and it will continue to open stores as per the existing pattern only.

Commenting on the Q3 FY13 performance, Mr. Balram Garg, MD, PC Jeweller Ltd., said, “These are our first results to be announced in public after our IPO in Dec 2012. We got tremendous response to our Issue, and the third quarter results are equally encouraging. We want to increase our customer base by entering cities across India which have great potential for diamond jewellery which is our main focus. We have up till now already opened 6 showrooms in the current financial year and are working on various marketing initiatives for our consumers. In the third quarter, our focus was on maximizing sales opportunities during the festival period by inducing demand with exquisite new collections, special offers, advertising and direct marketing initiatives.”


About PC Jeweller Limited:
PC Jeweller Limited is one of the leading jewellery companies in India. The company offers a wide range of products including gold jewellery, diamond jewellery and other jewellery products including silver articles, with a focus on diamond jewellery and jewellery for weddings. Their operations include manufacturing, retailing and export of jewellery with a major thrust on retail. The company has 30 showrooms at present across 18 cities in north and central India. The group has five jewellery manufacturing facilities in Selaqui (Dehradun), Noida Sector 63 and Noida SEZ.  

For more information, please visit www.pcjeweller.com.


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