PC Jeweller drops over 8% as Q3 profit tanks 73%

NEW DELHI: Shares of PC Jeweller tanked over 8 per cent in Friday’s trade after the jewellery maker reported a 73 per cent decline in consolidated net profit at Rs 35.61 crore for the December quarter.

The company's net profit stood at Rs 133.03 crore in the year-ago period, the company said in a regulatory filing.

Following the development, the stock fell to hit a low of Rs 18.60 on BSE. The scrip has fallen 72 per cent in the last one year and 22 per cent on a year-to-date basis.

Total income for the December quarter fell to Rs 1,703.86 crore compared with Rs 2,234.56 crore in the corresponding period of the last year.

The shares of the company closed 8.76 per cent lower at Rs 18.75 on BSE.