Jewellery maker PC Jeweller Ltd reported a net loss of Rs 124 crore ($15.2 million) for the fourth quarter ended March 2024, as against a net loss of Rs 408 crore in the year ago quarter.
The company’s revenue for the quarter was down by 72 percent to Rs 48 crore, as against Rs 173 crore in the corresponding quarter of the previous fiscal year.
PC Jeweller reported a revenue of Rs 189 crore for the full financial year 2024, as against Rs 2,359 crore in the previous financial year.
“Due to the litigations and negative promotion about the company, the customer sentiments towards the company’s future and existence got affected adversely. As a result of which, although the company’s showrooms were operational, but the quantum of operations was very low/negligible. This led to a fall in company’s revenue and its operational levels as well,” PC Jeweller said in its earnings presentation.
“The company is aware of its growth potential and hence is also revamping all other aspects of its business operations such as, preparing to launch new jewellery collections, revamping its franchisee business, cost optimization etc. With the rise in its sales and operational levels in Q1 FY 2025, the company is confident of regaining its lost market share and of showcasing good performance in Q1 FY 2025 and in the quarters to follow,” it added.
PC Jeweller ended the financial year with a network of 60 showrooms (including 6 franchisee showrooms) located in 44 cities spread across 15 states in India.
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