Owing to loss in export business PC Jeweller has declared a net loss of Rs 376.8 crore in the fourth quarter of last fiscal year. This is in juxtaposition to the net profit of Rs 118.28 crore of last year, it revealed in its regulatory filing.

The Delhi based jeweller attributes this loss to the one time discount against the outstanding export trade recievables aggregating to Rs 513 crore. He also maintained that the domestic business continued to remain profitable but with slightly reduced margins. 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.

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.