Big news has come for PC Jewellers, one of the largest jewelery companies in the country, which sells gold, silver and precious stone jewellery. The company has made itself completely debt free. The company had taken a loan of around Rs 3000 crore from a group of 14 banks. which has been paid. After which the company has become completely debt free. However, a day ago i.e. on Friday, the company’s shares fell by around 1 percent. Let us also tell you what kind of information is provided by the company.

This plan was created in 2024

The company said on Friday that it has made itself debt-free by paying off the entire dues of a group of 14 banks. The company had a debt of around Rs 3,000 crore. PC Jeweler adopted a one-time settlement (OTS) scheme to settle its dues with a consortium of banks in September 2024. Under this, conditions like payment by cash and equity and release of securities and mortgaged properties were included. With the payment made on Friday, it has settled the entire dues of the group of 14 banks under the terms of the settlement agreement signed on September 30, 2024, the company said in a filing to the stock exchange. These payments have been made before the stipulated deadline.

Profit was 37 percent

PC Jeweler said the debt relief will strengthen its balance sheet and financial position. In the April-June quarter, the company’s consolidated net profit rose 37 percent to Rs. 221.88 crores. Which had increased to Rs 161.93 crore a year ago. was In the first quarter, the company’s total revenue has increased to Rs 879.27 crore. which in the same quarter of the previous financial year increased to Rs. 807.88 crores. was PC Jeweler is one of the leading jewelery companies in the country and has around 50 stores across 12 states.

77 percent increase in 6 months

However, shares of PC Jewelers have risen tremendously in the current year. Shares of the company fell nearly 1 percent on Friday, but gained nearly 12 percent in 5 days. While an increase of more than 25 percent has been seen in one month. In the last 6 months, the shares of the company have seen an increase of about 77 percent. While in the current year the same return has been seen more than 56 percent.