PC Jeweller share price jumped up to 17 percent on Friday after the company reported around 80 percent growth in revenue during the April-June quarter of this financial year on strong demand and said it will become debt free this fiscal.
Shares of PC Jeweller advanced 16.76 percent to an intraday high of Rs 16.37 per share on the NSE. The stock had opened with a gain of 2.35 percent today after the business update was announced a day earlier on Thursday.
The stock has been gaining for the last four days and is up nearly 30 percent in the period. Later at around 1 pm, it pared some of its gains to quote at Rs 16.01 apiece, up 14.19 percent.
The sharp up move was seen after the company closed the April-June quarter on a strong note clocking a robust performance. In a regulatory filing on Thursday, PC Jeweller informed that "Despite the volatility in gold prices, the company was able to achieve a standalone revenue growth of approximately 80 per cent, as compared to the corresponding quarter of the previous financial year."
The company 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 per cent during 2024-25," PC Jeweller said.
The company expressed confidence of becoming debt free in the current fiscal. "For achieving its target, the company has further reduced its outstanding debts towards its bankers by another approximately 7.50 per cent 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.
Delhi-based PC Jeweller has a total of 52 showrooms, of which 49 are company-owned.
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