PC Jeweller achieved an increase of 34 % in its stand-alone net profit, cementing at Rs 146 crore for the December quarter.
The company recorded a net profit of Rs 109 crore in the same period a year ago.
PC Jeweller said in a statement that this was primarily owing to the wedding/festive season, coupled with improving sentiment, leading to increasing footfall in the showrooms, launch and aggressive marketing of the unique Abhigyaan Shakuntalam collection. Stable gold prices also helped in the overall increase in demand for jewellery.
The total income of the company increased 19.7 % to Rs 2,181 crore, from Rs 1,822 crore a year ago.
PC Jeweller pointed that customers welcome the idea of a strong brand like PC Jeweller entering tier 1 and tier 2 cities like Durgapur, Bhilai, Gwalior, Bhagalpur, Siliguri, Yamuna Nagar and Jamshedpur. Because of the operating costs being on the lower side, the brand is seeing quicker break-even.
PC Jeweller claimed that it has become the first company in the world to launch ‘Smart Jewellery’ and will start selling the same in the first quarter of 2016-17.
As per PC Jeweller, Smart jewellery comprises of an electronic module fitted within the jewellery. This jewellery can get synced with mobile device and has multiple features like - Call Alert, Pedometer, SOS, etc. The product is expected to be launched commercially in first quarter of FY17.
The stock of PC Jeweller closed at Rs 361.15 on BSE on Friday, up 1.39 per cent