PC Jeweller posts Q4 loss of Rs 376.8 cr on account of loss in export business

PC Jeweller has posted a net loss of Rs 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 Rs 118.28 crore in the year-ago period, it said in a regulatory filing Thursday.

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

"Net loss of Rs 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 Rs 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 Rs 2.81 crore as against a net profit of Rs 567.4 crore in the previous year.

Total income fell to Rs 8,461.17 crore during the 2018-19 fiscal from Rs 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 Rs 0.61 crore in the last fiscal year as against a profit of Rs 535.64 crore in the previous year. Total income fell to Rs 8,764.28 crore during the last fiscal year from Rs 9,707.13 crore in the 2017-18 financial year.

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