PC Jeweller Ltd. reported a strong set of numbers for the June quarter, with consolidated net profit rising 37.2% year-on-year to Rs 222 crore, compared with Rs 162 crore in the corresponding quarter last year, according to an exchange filing on Monday.
Revenue from operations rose 21% to Rs 877 crore from Rs 725 crore a year earlier, signalling continued growth in the company's core business.
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Operating performance was significantly stronger during the quarter, with consolidated EBITDA jumping 90% year-on-year to Rs 242 crore from Rs 127 crore in the year-ago period.
The sharp rise in operating profit also translated into a substantial expansion in margins. EBITDA margin stood at 27.5% in the June quarter, compared with 17.6% a year earlier, an improvement of nearly 10 percentage points.
The strong improvement in profitability came despite revenue growth being more measured, indicating a sharp improvement in operating efficiency and earnings quality during the quarter.
Separately, PC Jeweller's board has approved a proposal to raise up to Rs 1,000 crore through a Qualified Institutional Placement, or QIP. The proposed fundraise will be subject to applicable regulatory requirements and shareholder approvals.
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