Results · Commerce & Consumer Brands
BlueStone narrows Q2 losses as revenue climbs 37%
By Startup Enthusiast ·
- Date
- Company
- BlueStone
- What it does
- Fine jewellery retail brand
- Kind
- Results
- Amount
- Rs 513.6 crore
- Based in
- Bengaluru
- Founded
- 2011
What they do
Omnichannel jewellery retailer BlueStone narrowed its net losses by 38.2% to Rs 52.1 crore for the quarter ending September 30
What happened
Operating revenue for the second quarter reached Rs 513.6 crore, driven by expanding distribution reach and resilient festive demand
Why it matters
The Bengaluru-based company continued expanding its physical footprint, adding 19 new retail stores during the quarter to reach a total of 311 locations
The details
- Omnichannel jewellery retailer BlueStone reported operating revenue of Rs 513.6 crore for the quarter ended September 30, marking a 37% increase compared to the previous year.
- The company successfully narrowed its net losses by 38.2% year-on-year to Rs 52.1 crore, aided by growing distribution networks and strong festive buying.
- Total expenses for the quarter rose by 23% to reach Rs 575.8 crore, driven largely by a 59.6% surge in employee benefit costs.
- Material costs remained the primary expenditure category, while finance costs experienced a slight decline compared to the same period last year.
- The company expanded its physical retail presence by opening 19 new stores during the quarter, bringing its total store count to 311 as of September 30.
- On a half-yearly basis, operating revenue climbed 39% to Rs 1,006 crore, while total losses decreased by 40% to Rs 87 crore.
The bigger picture
- September demand was initially impacted by rising gold prices early in the month, but later recovered due to resilient festive consumer spending.
- The financial reporting follows the company's initial public offering on Indian stock exchanges earlier in August.
About the business
- BlueStone designs, manufactures, and retails fine jewellery featuring gold, diamond, platinum, gemstone, and pearl materials.
- The company operates an omnichannel model, combining an extensive e-commerce web platform with physical retail stores across India.
- Its product catalog spans over 7,000 certified designs across multiple categories including rings, earrings, pendants, and mangalsutras.
- Customer offerings include a lifetime exchange and buyback policy, a gold upgrade scheme, and free home delivery services.
- All jewellery products are certified by independent authorities such as the BIS Hallmark, IGI, and GSI.
The deal
- Type
- results
Founders
- Gaurav Singh Kushwaha, Founder
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