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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