PC Jeweller's Q2 profit rises 58% to ₹331 crore; says all bank debt is repaid

What happened

• Consolidated net profit was ₹331.08 crore against ₹209.56 crore a year earlier, up 57.99%, according to Upstox. Free Press Journal gave the figures as ₹330.66 crore against ₹209.54 crore; both put the rise at 58%.
• Revenue was ₹1,054.47 crore against ₹825.25 crore, up 27.8%, which Free Press Journal called total income. Upstox reported operating EBITDA of ₹310 crore against ₹178 crore, up 74%.
• The company said it repaid its dues to all 14 consortium banks ahead of schedule and now has zero bank borrowings. It received about ₹142 crore from export debtors during the quarter, per Upstox and Free Press Journal.
• It plans up to 100 new showrooms over 12 to 18 months and is developing a new brand for younger buyers around demi-fine and lab-grown diamond jewellery, per Upstox and Free Press Journal.
• Free Press Journal published at 7:51 PM on Wednesday. The shares closed at ₹18.51 on Wednesday, per Zerodha Kite, before the results.

Why it matters

Neither report put a figure on the interest cost that repaying the bank debt removes.

Good to know: EBITDA is earnings before interest, tax, depreciation and amortisation, a measure of operating earnings before financing and accounting charges.

Key facts

Consolidated net profit

₹331.08 crore (₹209.56 crore), up 57.99%, per Upstox

Revenue

₹1,054.47 crore (₹825.25 crore), up 27.8%

Operating EBITDA

₹310 crore (₹178 crore), up 74%, per Upstox

Bank debt

Zero; dues to 14 consortium banks repaid

Export debtor receipts

About ₹142 crore in the quarter

Read the source

• PC Jewellers Q2 results: Net profit soars 58% YoY to ₹331 crore, EBITDA surges 74%Upstox
• PC Jeweller Q2 Net Profit Jumps 58 Per Cent To ₹331 Crore; Company Achieves Debt-Free StatusFree Press Journal