New Delhi: PC Jeweller Ltd, one of India’s prominent jewellery retailers, continues its strong recovery trajectory, reporting a robust 28 per cent increase in consolidated net profit for the third quarter ended December 31, 2024. The company’s financial performance was bolstered by a surge in consumer demand during the peak festive and wedding seasons, coupled with a disciplined approach to balance sheet management.
Financial Performance Breakdown
According to the company’s regulatory filing with the BSE, consolidated net profit rose to ₹190.10 crore in Q3 FY2024-25, compared to ₹147.96 crore in the corresponding period of the previous fiscal year. This growth was underpinned by a significant jump in top-line revenue. Total income for the quarter stood at ₹900.51 crore, a substantial increase from the ₹683.44 crore reported in the year-ago period.
The positive momentum was not restricted to the third quarter alone. For the first nine months of the current fiscal (April–December), the company’s net profit climbed to ₹561.57 crore, up from ₹482.92 crore in the previous year. Total income for the nine months saw an even more dramatic rise, reaching ₹2,603.32 crore against ₹1,671.77 crore in the prior year, reflecting the brand’s successful efforts to regain market share and consumer trust.
Operational Resilience and Market Demand
PC Jeweller’s Managing Director, Balram Garg, attributed the resilient operational performance to the timing of the Indian festive calendar and a thriving wedding market.
“The company has posted a resilient operational performance in the third quarter of this fiscal, driven by continued consumer demand during the festive and wedding season,” Garg stated.
The jewellery sector, which is highly sensitive to seasonal trends, saw increased footfalls across PC Jeweller’s approximately 50 physical stores located across 12 states. The company’s ability to capitalise on these trends highlights its enduring brand equity despite past industry headwinds.
Accelerated Path to Debt-Free Status
Beyond the profit figures, the most significant highlight of the earnings report was the company’s rapid deleveraging. Following a landmark settlement agreement with its lenders on September 30, 2024, PC Jeweller has prioritised the liquidation of its liabilities.
Garg revealed that the company has successfully reduced its outstanding debt by approximately 68 per cent in just a few months. “This reflects a significant improvement in its financial position and reaffirms management’s focus on financial discipline and deleveraging,” he added. The company remains committed to its stated objective of becoming entirely debt-free, a move that is expected to significantly lower interest costs and improve future margins.
Future Outlook and Expansion
Looking ahead, PC Jeweller is shifting its focus from stabilisation to growth. The management indicated that the company is actively working on strengthening its core operations and expanding its retail footprint. This expansion strategy will involve a mix of company-owned showrooms and franchise formats to ensure a wider geographical reach with optimised capital expenditure.
With a cleaned-up balance sheet and revitalised sales growth, PC Jeweller is positioning itself to reclaim its standing as a top-tier player in India’s competitive organised jewellery market.
