Profit was 859.2 million rupees ($10.44 million) for the three months ended September 30, compared with a loss of 788.9 million rupees a year earlier.
It was the jewelry retailer’s second straight quarterly profit after nine straight quarters of losses.
Operating income jumped 60.4 percent to Rs 8.98 billion.
“The momentum in the footsteps and spending recorded in the second quarter is expected to continue in the third quarter as well,” the New Delhi-based company said, adding that the start of the wedding season would bode well for sales.
Indians celebrate Dussehra, Diwali and Dhanteras in October, when buying gold is considered auspicious. After this festival, the wedding season, one of the main drivers of gold buying in India, will begin.
Gold prices fell to around $1,650 an ounce from more than $2,000 in March, boosting demand for bullion, coins and jewelry in Asia, where buyers usually take advantage of low prices.
The company continues to work on adding additional franchisees and has been increasing its line, variety, and pricing of its jewelry items, said PC Jeweler.
($1 = 82,3200 Indian rupees)
