Shares of PC Jeweller fell sharply by over 3% in early trade on January 28 despite the company reporting a strong set of Q3 results, indicating that market sentiment outweighed earnings performance in the near term.
PC Jeweller delivered a solid operational showing in the December quarter, with net profit rising 31% year-on-year to ₹190 crore compared with ₹145 crore in the same period last year. Revenue grew 37% to ₹875 crore from ₹639 crore, reflecting improved demand and higher scale of operations. EBITDA surged 79.7% to ₹201.3 crore versus ₹112 crore a year ago, while margins expanded sharply to 23% from 17.5%, highlighting better cost control and operating leverage.
Despite the strong numbers, the stock came under selling pressure in morning trade. PC Jeweller shares moved between a low of ₹10.36 and a high of ₹10.83 during the session, compared with a previous close of ₹10.83. The counter witnessed heavy volumes of 3,18,93,896 shares as of 9:54 AM IST. Over the past year, the stock has traded in a wide range, with a 52-week low of ₹8.67 and a high of ₹19.65.
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