PC Jeweller posted its Q1 numbers. In an interview to CNBC-TV18, Sanjeev Bhatia, CFO of PC Jeweller spoke about the performance of their company in this quarter.
Q1 margin has declined due to a discount element, he said.
Have a steady margin for the diamond segment at 30 percent.
Saw a major rush due to goods and services tax (GST) in the last 10 days of June and we haven’t seen much of a difference in sales due to GST, he added.
“We are confident that we would maintain this momentum in the coming festive season as well,” said Bhatia.
Contribution of diamonds business to revenue is at 33 percent, he further mentioned.
PC Jeweller has opened four new stores in current year, which totals its store numbers to 79. Bhatia is hopeful of pushing this number by another at least 15 stores in the remaining months.
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