Representative Image PC Jeweller Ltd has reduced bank loans by more than half to about Rs 1,800 crore this fiscal year and aims to become debt-free by March next year on better sales and fundraise, its MD Balram Garg said. PC Jeweller, which sells gold and silver jewellery, has 55 showrooms across 15 states. In…
PC Jeweller 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…
New Delhi: Jewellery retailer PC Jeweller Ltd on Wednesday reported a consolidated net profit of Rs 156.06 crore for the first quarter ended June 30, compared to a net loss of Rs 171.62 crore a year earlier. The company’s revenue from operations surged to Rs 401.15 crore during the April-June quarter of this fiscal from…
Gold prices have corrected sharply by 7 per cent or Rs 5,000 per 10 grams in the local markets after the government slashed basic custom duty on gold, and the lower costs will encourage more people to invest in the yellow metal, both as a commodity and as a financial asset, experts say. Analysts said…
Mumbai: PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents about a 20% haircut to lenders’ principal amount, estimated at ₹2,900 crore, and…
Representative Image PC Jeweller on Tuesday said its board has approved a proposal to raise Rs 2,000 crore through rights issues and preferential allotment of fully convertible warrants. The board in a meeting held on Tuesday also approved a proposal to increase the authorised share capital and alteration in the capital clause of the memorandum…
The country’s largest bank, the State Bank of India, has taken possession of two residential properties owned by PC Jeweller Ltd. in New Delhi after the firm and its guarantors failed to repay Rs 1,168.90 crore. In a notification, the lender cautioned the public not to deal with the property and that any dealings with…
Public sector lender State Bank of India (SBI) has taken PC Jeweller to the National Company Law Tribunal (NCLT) with a plea to initiate insolvency proceedings against the city-based jewellery manufacturer and retailer claiming a default. A Delhi-based principal bench of NCLT had issued a notice to PC Jeweller last week directing it to file…
