NEW DELHI: PC Jeweller has posted a net loss of ₹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 ₹118.28 crore in the year-ago period, it said in a regulatory filing Thursday.
Total income, however, rose to ₹2,203.91 crore during January-March quarter of 2018-19 fiscal from ₹2,114.64 crore in the corresponding period of the previous year.
"Net loss of ₹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 ₹513 crore," the Delhi-based jeweller said in a presentation.
The domestic business continues to remain profitable, though with slightly reduced margins, it added.
During the full 2018-19 fiscal, PC Jeweller has posted a standalone net loss of ₹2.81 crore as against a net profit of ₹567.4 crore in the previous year.
Total income fell to ₹8,461.17 crore during the 2018-19 fiscal from ₹9,588.54 crore in the 2017-18 fiscal. Out of the total operational revenue, 17% came from exports.
On a consolidated basis, the company posted a net loss of ₹0.61 crore in the last fiscal year as against a profit of ₹535.64 crore in the previous year. Total income fell to ₹8,764.28 crore during the last fiscal year from ₹9,707.13 crore in the 2017-18 financial year.