From The Economic Times · PTI · · 50s
PC Jeweller becomes debt-free
PC Jeweller clears debt with all 14 consortium banks.
In brief
PC Jeweller clears debt with all 14 consortium banks. PC Jeweller Ltd achieved debt-free status after repaying all 14 consortium banks under a September 2024 settlement agreement. Originally reported by The Economic Times.
PC Jeweller becomes debt-free
PC Jeweller Ltd has successfully cleared dues with all 14 consortium banks to become completely debt-free.
Debt amount cleared
The company had a total debt of around Rs 3,000 crore before clearing all dues.
Settlement agreement
PC Jeweller opted for OTS in September 2024 to settle outstanding dues with consortium banks.
Debt repayment completed
The company discharged all 14 consortium banks' debt ahead of scheduled due dates under the September 30, 2024 agreement.
Financial impact
PC Jeweller reported a 37 per cent increase in net profit to rs 221.88 crore for the quarter ended june.
The essence
PC Jeweller Ltd achieved debt-free status after repaying all 14 consortium banks under a September 2024 settlement agreement.
