Omnichannel jewellery retailer Bluestone Jewellery and Lifestyle on Monday reported a 48.8% year-on-year rise in standalone revenue from operations to Rs 733 crore for the quarter ended June. Sequentially, revenue was up 6.6% from Rs 688 crore in Q4FY26.
The Bengaluru-based company posted an adjusted profit after tax of Rs 14 crore for Q1FY27, against an adjusted loss of Rs 21 crore in the year-ago quarter and an adjusted profit of Rs 12 crore in the preceding quarter, a sequential rise of 15.1%. As a share of revenue, adjusted PAT stood at 1.9%, against 1.7% in Q4FY26 and a negative 4.3% in Q1FY26.
Ebitda before lease accounting adjustments, a measure the company uses that counts store rent as an operating cost, rose 134.6% to Rs 55 crore from Rs 23 crore a year earlier, and was up 7.5% from Rs 51 crore in Q4FY26. The margin expanded 273 basis points year-on-year to 7.5%, but was near-flat against 7.4% in the preceding quarter.
Same-store sales growth stood at 39% for the quarter. BlueStone added 12 stores during the period, taking its network to 352 stores across 139 cities, from 340 stores across 134 cities at the end of March. All five new cities entered were in tier-2 and tier-3 markets.
“We have opened FY27 on a strong footing, with 49% YoY revenue growth and SSSG of 39% for the quarter, with older cohorts demonstrating similar to better SSSG trends,” managing director and chief executive officer Gaurav Singh Kushwaha said in a statement. He added that the company delivered a standalone cash profit of Rs 57 crore during the quarter, “reinforcing the self-funding nature of our growth”.
The quarter was the first to absorb the customs duty increase notified on May 13, which reversed the 2024 cut and took the levy back to 15%. The World Gold Council has estimated the move could reduce India’s jewellery, bar and coin demand by 50-60 tonnes, or about 10% year-on-year, in 2026. Since the hike took effect roughly six weeks into the quarter, its full impact on consumer demand is likely to show up only from Q2FY27.
The results were announced after market hours on Monday. Shares of BlueStone opened at Rs 603.55 on the NSE on Monday and closed at Rs 613.90, up 2.48% from the previous close of Rs 599.05.
BlueStone had closed FY26 with revenue of Rs 2,441 crore, up from Rs 1,770 crore in FY25, and an adjusted PAT of Rs 10 crore against an adjusted loss of Rs 128 crore.
