PC Jeweller’s shares rose 4.42 percent, reaching a 52-week high of Rs 99.46 in intraday trading on the BSE. The shares rose on Wednesday as the company announced an increase in net profits in the April-June quarter of fiscal year 2024-25 (Q1FY25).

The income from operations for the first quarter of FY25 was Rs 401 crore, up 158% from Rs 67 crore in Q1FY24. Profit after tax (PAT) for the firm came to Rs 155 crore, a huge turnaround from a loss of Rs 173 crore during the same period the previous year.

Earnings before interest, taxes, depreciation and amortization (Ebitda) for the June quarter were Rs 89 crore, up from a negative of Rs 42 crore in the first quarter of FY24, representing a Rs 131 crore increase.

In an exchange filing, the management shared, “The Q1FY25 has been a turnaround quarter for the company. The company has started regaining its customer trust and goodwill which has resulted in an exponential growth in its topline and profitability.”

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

The shares of PC Jeweller have seen a rise since July 2024. In the first week of July 2024, PC Jeweller’s share price reached a low of ₹51 and has since risen. However, it appears like PC Jeweller, often known as a’multibagger stock’ owing to its huge growth potential, still has some upward momentum.

The price of PC Jeweller shares opened the day higher than expected at ₹74 and reached a high of ₹72.80 on the NSE, marking a 4.50 percent intraday increase on Monday. The multibagger jewellery stock reached a new peak as it rose to this intraday high.

On the weekend, PC Jeweller’s stock made headlines when the board approved a large fund raise of around ₹2,705 crore through the issuance of fresh shares. The firm informed the Indian bourses of this decision in an exchange filing on Saturday. Its goals are to improve the company’s financial condition and support its growth plan.

As of 2:17 pm, PC Jeweller shares were trading 1.68% higher at ₹70.90.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

In today’s early morning session, PC Jeweller stocks reached ₹56 apiece, with a 10% upper circuit limit. This dramatic jump in shares came after the company’s announcement on Sunday that Punjab National Bank had approved a one-time settlement of its outstanding debts.

In a regulatory approval, PC Jeweller stated that “Punjab National Bank, the third largest bank after the State Bank of India amongst consortium banks of the company in terms of its exposure, has conveyed its approval to the One Time Settlement (OTS) proposal submitted by the company.”

PC Jeweller had chosen OTS to settle the outstanding dues with a group of banks. According to the filing, the terms and conditions of the approved OTS include the release of securities and mortgaged assets, as well as cash and equity components payable under the settlement.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.