Companies

PC Jeweller posts ₹376.8 cr net loss in Q4

PTI New Delhi | Updated on May 31, 2019 Published on May 31, 2019

P C Jeweller has posted a net loss of ₹376.8 crore on a standalone basis during the fourth quarter of last fiscal on account of loss in export business.

The company had posted a net profit of ₹118.28 crore in the year-ago period, it said in a regulatory filing Thursday.

Total income, however, rose to ₹ 2,203.91 crore during January-March quarter of 2018-19 fiscal from ₹ 2,114.64 crore in the corresponding period of the previous year.

“Net loss of ₹ 376.8 crore in Q4 FY19 is due to loss in the export business on account of one-time discount against the outstanding export trade receivables aggregating to ₹ 513 crore,” the Delhi-based jeweller said in a presentation.

The domestic business continues to remain profitable, though with slightly reduced margins, it added.

During the full 2018-19 fiscal, P C Jeweller has posted a standalone net loss of ₹ 2.81 crore as against a net profit of ₹ 567.4 crore in the previous year.

Total income fell to ₹ 8,461.17 crore during the 2018-19 fiscal from ₹ 9,588.54 crore in the 2017-18 fiscal. Out of the total operational revenue, 17 per cent came from exports.

On a consolidated basis, the company posted a net loss of ₹ 0.61 crore in the last fiscal year as against a profit of ₹ 535.64 crore in the previous year. Total income fell to ₹ 8,764.28 crore during the last fiscal year from ₹ 9,707.13 crore in the 2017-18 financial year.

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Published on May 31, 2019
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