PC Jeweller Ltd. reported a 28% YoY increase in consolidated revenue for the September quarter and said it has achieved debt-free status after repaying its outstanding debt. The company also received Rs.142 crore in remittances from its export debtors during the quarter.
The jewellery retailer’s latest business update comes amid strong consumer demand and the festive and wedding season. The company has been working on improving its balance sheet while continuing to expand its retail operations.
PC Jeweller has also approved steps for a proposed Qualified Institutional Placement (QIP) of up to Rs.1,000 crore. The proposed fundraise could provide additional capital for the company’s future requirements following the completion of its debt repayment programme.
