PC Jeweller Share Price Up For Second Session After Q3 Revenue, Profit Rise

PC Jeweller Ltd.’s share price continued its upward trajectory for the second consecutive session, rising nearly 6% following the release of its third-quarter earnings. The company’s financial performance for Q3 demonstrated year-on-year growth.

PC Jeweller reported 15.9 times increase in revenue to Rs 639 crore from Rs 40.1 crore. The company’s Ebitda turned positive, reaching Rs 112 crore, compared to an Ebitda loss of Rs 73 crore in the same period last year.

The Ebitda margin stood at 17.5%, indicating healthy profitability levels. Additionally, PC Jeweller reported a net profit of Rs 148 crore, against a net loss of Rs 198 crore reported in the previous year.

The scrip rose nearly 5% on Wednesday after the company reported its third quarter financial results. It traded at the same level throughout the day and closed higher as well.

PC Jeweller Ltd., established in 2005, is a prominent player in the Indian jewellery market. Headquartered in New Delhi, the company specialises in the manufacture, export, wholesale, and retail of gold and diamond jewellery. The company has a network of over 80 showrooms across 66 cities in India.

The scrip rose as much as 5.98% to Rs 16.65 apiece. It pared gains to trade 1.08% higher at Rs 15.88 apiece, as of 10:18 a.m. This compares to a 0.26% decline in the NSE Nifty 50.

It has risen 91% in the last 12 months. Total traded volume so far in the day stood at 4 times its 30-day average. The relative strength index was at 50.