PC Jeweller share price fell in afternoon trade today after the firm reported 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. PC Jeweller share price fell 9.37% to 73 level intra day compared to the previous close of 80.55 level on BSE.
PC Jeweller share price has fallen 26.70% during the last five days. PC Jeweller share price opened 9.37% lower at 73 level in trade today.
The stock has lost 54.13% during the last one year and fallen 11% since the beginning of this year. Its total income 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.
The domestic business continues to remain profitable, though with slightly reduced margins, it added. During the full 2018-19 fiscal, PC Jeweller reported 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.
Meanwhile, Sensex was trading 118 points lower at 39713 and Nifty lost 30 points to 11,914.
Edited by Aseem Thapliyal