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PC Jeweller Ltd reports Rs 89.95 crore Net Profit in April-June Quarter, FY14

Leading jewellery brand PC Jeweller Limited (PCJ) today announced its April-June quarter results for the financial year 2013-2014. The company reported a net profit of Rs 89.95 crore for the first quarter of FY2014 whereas the net sales stood at Rs 1379 crore.   

The topline of the company comprised of a domestic turnover of Rs 1178.03 crore and export turnover of Rs 200.98 crore. The company’s profit before finance costs and exceptional items was reported as Rs 166.70 cr for Q1 FY2014 and the EPS for the quarter was Rs 5.02.

Speaking on the quarterly performance, Mr Balram Garg, MD, PC Jeweller Ltd said: “We are happy with our performance in the first quarter. We have been constantly focussing on our key strengths and our forte which is diamonds. This quarter, we also penetrated Western India and have opened 2 showrooms in Gujarat where we are already receiving a tremendous response. Other than Gujarat, we opened 4 new showrooms in other cities. We intend to open 14 more showrooms in this financial year, which shall take our total tally to 50. These showrooms will put us across the map letting us stretch our network to many diverse cities and increasing our customer base.”

PCJ has been on a rapid expansion mode since its initial public offer (IPO) of stocks in December 2012, taking the total tally of showrooms to 36. From 30 showrooms in fiscal year 2013, the company added all the 6 showrooms in the first quarter of FY2014 itself including its foray into Gujarat by opening two stores in Ahmedabad and Vadodara. The other showrooms were opened in Delhi, Rajasthan, Madhya Pradesh and Haryana.  

PC Jeweller has associated with some prestigious events like Femina Miss India 2013, India International Jewellery Week (IIJW), PCJ Delhi Couture Week 2013, etc. To keep itself abreast with the changing industry trends and choices, PCJ has constantly been emerging with innovative designs to thrive through the competition and has maintained its forte in the diamond segment sustaining margins and growth volumes.

With diamond jewellery gaining mass appeal among citizens, PCJ has maintained key focus on this segment, which constitutes a major part of their sales. Confident of sustaining growth volumes and margins, PCJ has augmented its manufacturing and designing capabilities for diamond jewellery. While the Company procures loose cut and polished diamonds from numerous vendors in Surat and Mumbai, it procures gold on lease basis and has signed gold lease agreements with many nominated agencies and banks in order to ensure an uninterrupted supply of gold.

About PC Jeweller Limited

BSE: 534809 | NSE: PCJEWELLER

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 with a thrust on diamond jewellery and jewellery for weddings. PC Jeweller has significant jewellery manufacturing capabilities and currently has four jewellery manufacturing facilities in Selaqui (Dehradun), Noida & SEZ Noida that cater to their sales in India & Abroad. The company now has 36 showrooms at present across 28 cities in India. For additional details, please visit www.pcjeweller.com. 

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