Omnichannel jewellery retailer BlueStone slipped into the red in the second quarter of FY27, reporting a consolidated net loss of ₹4.4 Cr against a net profit of ₹6 Cr in the preceding quarter. However, its loss narrowed nearly 92% from ₹52.1 Cr in the year-ago quarter.
Operating revenue rose 45% to ₹745 Cr from ₹513.6 Cr in Q2 FY26. On a sequential basis, revenue edged up 1.1% from ₹736.8 Cr.
Including other income of ₹24.4 Cr, BlueStone’s total income stood at ₹769.4 Cr during the September quarter.
Total expenses increased 34% YoY and 3.7% QoQ to ₹772.4 Cr.
Separately, the company’s board approved raising up to ₹300 Cr through non-convertible debentures (NCDs) on a private placement basis, in one or more tranches. The proceeds will be used to refinance a portion of its existing debt and meet capital expenditure, working capital, and general corporate requirements.
Store Network Expands Further
BlueStone ended September with 379 stores across 146 cities, adding 68 stores and expanding into 19 more cities over the past year. Its store count increased from 352 at the end of June.
All seven cities it entered during Q2 were in Tier II and III markets.
Its customer base crossed 1 Mn during the quarter, reaching 10.24 Lakh at September-end, up 19.3% YoY. Repeat customers contributed 56.3% of quarterly revenue, compared with 51.4% a year earlier.
On a standalone basis, BlueStone’s same-store sales grew 28% YoY during Q2, while operating revenue increased 43.9% to ₹738.1 Cr.
(The story will be updated soon)
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