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Thursday, August 08, 2013

PC Jeweller gains after Q1 results

PC Jeweller rose 3.69% to Rs 88.60 at 14:08 IST on BSE after net profit rose 9.09% to Rs 89.95 crore on 20.52% growth in total income from operations to Rs 1379 crore in Q1 June 2013 over Q4 March 2013.

The Q1 result was announced during trading hours today, 7 August 2013.

Meanwhile, the S&P BSE Sensex was down 28.24 points or 0.15% at 18,704.80.

On BSE, 2.43 lakh shares were traded in the counter as against average daily volume of 1.64 lakh shares in the past one quarter.

The stock hit a high of Rs 92.60 and a low of Rs 84.75 so far during the day. The stock had hit a record high of Rs 194.90 on 7 January 2013. The stock hit a record low of Rs 65.95 on 18 July 2013.

The stock had outperformed the market over the past one month till 6 August 2013, sliding 3.39% compared with the Sensex's 3.91% fall. The scrip had, however, underperformed the market in past one quarter, declining 22.77% as against Sensex's 4.78% fall.

The small-cap company has equity capital of Rs 179.10 crore. Face value per share is Rs 10.

Other expenses for Q1 June 2013 include prior period rent amounting to Rs 7.72 crore and its corresponding prior period impact on deferred tax asset amounting to Rs 2.62 crore.

PC Jeweller did not unveil results for the corresponding period of the previous year i.e. for Q1 June 2012 as the company was listed on the bourses only in late December 2012.

PC Jeweller's board of directors at a meeting held today, 7 August 2013, approved the dividend policy of the company. PC Jeweller will pay dividend twice a year -- by way of interim dividend for the half year ended 30 September and by way of final dividend for the year ended 31 March after the end of the financial year. The board will endeavor to maintain the dividend payout ratio as near as possible to 15%. Therefore, the board intends to distribute to the shareholders almost 15% of its net profit by way of dividend. This policy will be subject to review by the board every year.

PC Jeweller, promoted by Padam Chand Gupta and Balram Garg, is one of the leading jewellery companies in India in the organized jewellery retail sector.