PC Jeweller Q2 revenue up 63%, cuts debt by 23% in Sep quarter

New Delhi: PC Jeweller Ltd on Thursday said its revenue grew about 63 per cent year-on-year in the second quarter of this fiscal on better demand for gold jewellery during the festive season.

Delhi-based PC Jeweller, which has 52 showrooms, of which 49 are company-owned, further reduced its debt by 23 per cent during the latest September quarter.

In a regulatory filing, Delhi-based PC Jeweller shared operational update for the July-September quarter of the 2025-26 fiscal.

The company informed that it has posted a strong performance in the July-September period, driven by strong consumer demand during the ongoing festive season.

The company achieved "standalone revenue growth of approximately 63 per cent compared to the corresponding quarter of the previous financial year", it added.

During the quarter, the company expanded its retail presence by opening a franchise-owned showroom in Pitampura, Delhi.

To expand business, the company has adopted a strategy of balanced growth through a mix of company-owned and franchise showrooms.

"Looking ahead, the company is confident about building on its strong performance in the upcoming quarters and is focused on reclaiming its leading market position, which it has held in the past," PC Jeweller said.

The company highlighted that it has reduced its outstanding debt payable to banks by about 23 per cent during this quarter.

This is in addition to the reduction of 9 per cent during the first quarter of this fiscal and more than 50 per cent cut in the previous financial year.

"This debt reduction is in line with the company's goal of becoming debt-free by the end of 2025-26," PC Jeweller said.

At the end of the 2024-25 fiscal year, PC Jeweller had a net debt of Rs 1,780 crore.

For further reduction of bank loans, the company's board in July approved a proposal to raise Rs 500 crore equity from promoters and Capital Ventures Pvt Ltd.

Besides this, PC Jeweller will receive Rs 1,300 crore from promoters and investors on the conversion of warrants into equity shares.

These Rs 1,800 crore funds will help the company in clearing all its outstanding debt.

The debt reduction is being done as per the company's settlement with its bankers.

Meanwhile, PC Jeweller reported a sharp jump in its total income to Rs 807.88 crore during the April-June period of 2025-26 fiscal from Rs 439.78 crore in the corresponding period of the preceding year.

The company reported a marginal 4 per cent increase in its consolidated net profit to Rs 161.93 crore for the quarter ended June from Rs 156.06 crore in the year-ago period because of the high base effect.

But the profit before tax nearly doubled to Rs 163.58 crore from Rs 84.64 crore during the period under review.

The company got tax refunds to the tune of Rs 71.39 crore in the April-June quarter of the last fiscal, resulting in higher net profit.

During the 2024-25 fiscal year, PC Jeweller had posted a net profit of Rs 577.70 crore and a total income of Rs 2,371.87 crore.

PC Jeweller's share price closed at Rs 12.66 apiece on Wednesday on the BSE platform.

Its market capitalisation stood at Rs 8,324.43 crore, while the PE ratio is around 15, according to the BSE website.