India's PC Jeweller posts profit in Q3 on strong festive demand

PC Jeweller

04/02/2025 13:05

Feb 4 (Reuters) - India's PC Jeweller  PCJE.NS  posted a profit in the third quarter on Tuesday, driven by
demand for jewellery during the festival and wedding season.
    The company posted a consolidated net profit of 1.48 billion rupees ($17 million) in the quarter ending Dec. 31,
compared with a loss of 1.98 billion rupees a year earlier and a profit of 1.79 billion rupees in the previous quarter.
    Revenue from operations saw a near sixteen-fold surge to 6.39 billion rupees.
    For further results highlights, click [Full story].    
         
KEY CONTEXT
Major festivals and the wedding season during the quarter fueled demand for gold jewellery while higher gold prices
pushed consumers to choose lighter and lower-carat jewellery.
    PC Jeweller faced liquidity squeeze due to disputes with some of its lenders in the previous quarters and had
offered one-time settlements to the banks, which had hurt its profitability.
    Peer Kalyan Jewellers  KALN.NS  posted higher profit in the third quarter owing to robust festive and wedding-season
demand, while larger peer Titan  TITN.NS  beat third-quarter profit estimates.
    
    
PEER COMPARISON
 
                                 Valuation (next 12    Estimates (next 12           Analysts' sentiment             
                                      months)               months)                                             
                         RIC        PE     EV/EBITD   Revenue      Profit       Mean      # of      Stock to      Div
                                              A      growth (%)  growth (%)   rating*    analyst     price       yield
                                                                                            s       target**      (%)
 PC Jeweller           PCJE.NS     9.04       -          16          20         Buy         1         0.49         -
 Titan Company         TITN.NS    67.95     46.30      14.19       29.31        Buy        22         0.97        0.31
 Kalyan Jewellers      KALN.NS    54.54     31.11      28.96       39.45     Strong Buy     8         0.82        0.24
 Senco Gold            SENC.NS    29.03     18.01      18.57       30.21     Strong Buy     6         0.72        0.20
  
 
* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the
PT


OCTOBER-DECEMBER STOCK PERFORMANCE
     
   
-- All data from LSEG
-- $1 = 87.0740 Indian rupees


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 (Reporting by Ashna Teresa Britto; Editing by Mrigank Dhaniwala)
 ((AshnaTeresa.Britto@thomsonreuters.com;))