PC Jeweller becomes debt-free after repaying 3,000 crore rupees

PC Jeweller Limited has announced that it is now debt-free after repaying over 3,000 crore rupees owed to a consortium of 14 banks. The company fulfilled the terms of a settlement agreement reached on September 30, 2024, completing the payments ahead of the scheduled deadline.

The debt clearance follows a strong financial performance in the April-June quarter, during which the company reported a 37 percent increase in integrated net profit to 221.88 crore rupees, up from 161.93 crore rupees in the same period last year. Total revenue for the first quarter also rose to 879.27 crore rupees.

According to the company, becoming debt-free will strengthen its balance sheet and overall financial position. PC Jeweller operates approximately 50 stores across 12 Indian states.