Reserve Bank of India (RBI) has discontinued the issuance of letters of undertaking (LoU) and letters of comfort (LoC) for trade credit by banks. In an interview with CNBC-TV18, Sanjeev Bhatia, CFO of PC Jeweller detailed the impact.
In an interview to CNBC-TV18, Dinesh Nandwana, MD & CEO of Vakrangee spoke about the latest happenings in the company.
The reduction in GST rates shows that the government is looking at this industry favourably, said Sanjeev Bhatia, CFO, PC Jeweller.
“We are pretty confident of maintaining our growth both in the topline as well as bottomline,” Sanjeev Bhatia, CFO of PC Jeweller said.
In an interview to CNBC-TV18, Sanjeev Bhatia, CFO of PC Jeweller spoke about how festive sales shaped up this season.
PC Jeweller is in focus as Crisil upgrades their long-term rating. In an interview to CNBC-TV18, Sanjeev Bhatia, CFO of the company spoke about the rating and latest happenings in his company.
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.
The goods and services tax (GST) Council in its 16th meeting held yesterday has slashed GST rate for jewellery making charges from 18 percent to 5 percent. In an interview to CNBC-TV18, Sanjeev Bhatia, CFO of PC Jeweller explains the impact.
Every organised jewellery company will report good growth in the current quarter, said Sanjeev Bhatia, CFO, PC Jeweller.
With the company largely catering to wedding jewellery, which is almost a compulsory purchase, Sanjeev Bhatia, CFO, PC Jeweller, said the demand could get postponed but would not evaporate.
Gold is seeing a price drop this festive season which has led to a massive boost in demand. Along with good monsoons, it has led to a spur in rural buying too.
Sanjeev Bhatia, CFO, PC Jeweller is confident of achieving 15% topline growth in FY17.
The board of PC Jeweller has approved the issue of compulsarily convertible debentures (CCDs) for an aggregate amount of up to Rs 420 crore by way of a preferential allotment to DVI Fund Mauritius, the company informed exchanges today.
Sanjeev Bhatia, CFO, PC Jeweller, believes rupee depreciation will help the company in its export business.
Sanjeev Bhatia, CFO of PC Jeweller says stable gold prices have helped rise in demand and he does not see any scope of decline in the market.
In an interview to CNBC-TV18, Sanjeev Bhatia, chief financial officer, PC Jeweller shares his views on the current gold demand in the country and his outlook on the precious metal.
Going ahead, Sanjeev Bhatia, CFO, PC Jeweller, expects to see improvement in sentiment during the upcoming festive season.
Lower prices of gold are getting us handsome footfalls since morning, said RK Sharma, ED & COO of PC Jeweller. He is upbeat on the sales on the back of auspicious occasion of Akshay Tritiya and upcoming wedding season.
This notification, Sanjeev Bhatia, chief financial officer, PC Jeweller says won't have any significant impact on either cost of funds or hedging or lease costs.
PC Jeweller‘s third quarter net profit surged 36.6 percent year-on-year to Rs 109.3 crore on strong revenue and operating growth.
Discussing the earnings, Sanjeev Bhatia, President - Finance, PC Jeweller, said that variation in exports is normal for the company.
The company witnessed higher profit in the second quarter due to the rupee depreciation, CFO Sanjeev Bhatia said, adding that the industry witnessed â€œturbulent timesâ€ in the third quarter.
Speaking to CNBC-TV18, Sanjeev Bhatia, president- finance, PC Jeweller says that talks of a slump in demand are partially incorrect. The fall in demand, he explains, is in gold coins and bullion and not so much in the jewellery segment. Hence, the company is unaffected by this demand fall.
Speaking to CNBC-TV18 on his outlook for the jewellery business, RK Sharma, chief operating officer, PC Jewellers says there has been a shift in demand from gold to diamond jewellery.
According to Sanjeev Bhatia, the hike in import duty on gold jewellery was an overdue move to rationalise the duty structure after the duty on raw material went up to 10 percent.