PC Jeweller tanks 10% as exchanges place stock under surveillance; check details

Last seen, the stock was trading 9.14% down at ₹16.99 apiece on the National Stock Exchange (NSE).

Shares of the jewellery firm have seen a rally of nearly 12% in the last trading session after it shared April to June quarter business updates.

PC Jeweller had reported around 80% growth in revenue during the April-June quarter of the current financial year on strong demand despite volatility in gold prices and said it will become debt-free this fiscal year.

"Despite the volatility in gold prices, the company was able to achieve a standalone revenue growth of approximately 80%, as compared to the corresponding quarter of the previous financial year," PC Jeweller had said.

Meanwhile, the jewellery firm on Tuesday said that its board will be meeting on July 10 to consider fundraising.

The company saw high demand for its products, as consumers purchased jewellery for weddings and festivals.

During the quarter, the firm saw high demand for its products, as consumers purchased jewellery for weddings and festivals. "Further, the company had already reduced its outstanding debts towards its bankers by more than 50% during 2024-25,” PC Jeweller said.

The company expressed confidence in becoming debt-free in the current fiscal year.

"For achieving its target, the company has further reduced its outstanding debts towards its bankers by another approximately 7.50% during the June quarter," PC Jeweller said.

The company said it continues to revamp and strengthen all the aspects of its operations. PC Jeweller said it is "optimistic" about delivering exceptional performance in the upcoming quarters as well.

PC Jeweller had posted a consolidated net profit of ₹577.70 crore last fiscal year. In the 2023-24 fiscal year, it reported a net loss of ₹629.36 crore.