PC Jeweller Ltd. shares jumped over 4 percent on Thursday after the company reported another profitable quarter in continuation of the first quarter of the fiscal year 2022-23.
The second consecutive quarterly profit comes after the company reported nine straight quarters of net losses due to various reasons.
Net profit for the September quarter stood at Rs 73 crore. The company reported a net loss of Rs 76 crore during the same period last year.
Revenue for the quarter at Rs 836 crore was aided by a low base. For the first six months of the current financial year, the company's sales of Rs 1,357 crore were 223 percent higher than last year.
The company's management is pinning hopes on the current festive quarter and the upcoming marriage season to increase footfalls and growth momentum. "The spending experienced in Q2 is expected to continue in Q3 as well," CFO Sanjeev Bhatia was quoted as saying.
Shares of PC Jeweller are trading 4 percent higher at Rs 102.6. Shares have gained nearly 5x this year, rebounding from their 52-week low of Rs 18.
