PC Jewellers Q2 Results: Net profit shoots up 58% to Rs 331 crore; company says it is now debt-free

What happened: PC Jewellers reported a 58 percent rise in net profit for the July-September quarter and said it has become debt-free after repaying all 14 consortium banks ahead of schedule. Key numbers: Net profit Rs 331 crore versus Rs 209.54 crore a year ago. Total income Rs 1,054.47 crore, up 28 percent from Rs 825.25 crore. Why it matters: The company said it is confident of starting new showrooms this financial year and is planning a new brand focused on demi-fine, lightweight and lab-grown-diamond jewellery for younger and self-purchasing buyers.

PC Jewellers reported a 58 percent rise in net profit for the July-September quarter and said it has become debt-free after repaying all 14 consortium banks ahead of schedule.

The company said it is confident of starting new showrooms this financial year and is planning a new brand focused on demi-fine, lightweight and lab-grown-diamond jewellery for younger and self-purchasing buyers.