PC Jeweller quarterly net profit grows 34% to Rs 146 cr

PC Jeweller today reported an increase of 34 per cent in its stand-alone net profit at Rs 146 crore for the December quarter.
The company posted a net profit of Rs 109 crore in the same period a year ago.
"This was primarily owing to the wedding/festive season, coupled with improving sentiment, leading to increasing footfalls in our showrooms, launch and aggressive marketing of the unique Abhigyaan Shakuntalam collection," PC Jeweller said in a statement.
Stable gold prices have helped in the overall demand pick-up for jewellery, it added.
The total income of the company increased 19.7 per cent to Rs 2,181 crore, from Rs 1,822 crore a year ago.

"Customers appreciate entry of a strong brand like PC Jeweller in tier 1 and tier 2 cities like Bhagalpur, Durgapur, Siliguri, Yamuna Nagar, Bhilai, Gwalior and Jamshedpur. The operating costs are lower in these places and we are seeing quicker break-even," the statement said.

PC Jeweller said that it has become the first company in the world to launch "smart jewellery" and will start selling the same in the first quarter of 2016-17.
"Smart jewellery comprises an electronic module fitted within the jewellery. This jewellery can get synced with mobile device and has various features like - Call Alert, Pedometer, SOS, etc. The product is expected to be launched commercially in first quarter of FY17," the statement said.

The stock of PC Jeweller closed at Rs 361.15 on BSE on Friday, up 1.39 per cent.