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Stock market update: PC Jeweller Ltd on Tuesday reported a 28 per cent increase in its consolidated net profit at Rs 190. 10 crore in the quarter ended December mainly on festive demand. As per a report covered by PTI news agency its net profit stood at Rs 147 which was 96 crore in the year-ago period. Also the total income grew to Rs 900 which was 51 crore in the October-December period of this fiscal from Rs 683. According to a regulatory filing the total income was 44 crore in the corresponding period of the preceding year. PC Jeweller MD Balram Garg said the company has posted a resilient operational performance in the third quarter of this fiscal driven by continued consumer demand during the festive and wedding season. On the balance sheet front he said the company continues to make steady progress towards its stated objective of becoming debt-free. Since the execution of the settlement agreement with banks on 30 September 2024 the company has reduced its outstanding debt by approximately 68 per cent reflecting a significant improvement in its financial position and reaffirming managements focus on financial discipline and deleveraging Garg said. The company remains focused on strengthening core operations expanding retail presence through owned and franchise formats he added. During the first nine months of this fiscal PC Jewellers net profit rose to Rs 561 which was 57 crore from Rs 482. Also it was 92 crore in the year-ago period. Total income rose to Rs 2603 which was 32 crore during the April-December period of this fiscal from Rs 1671. Also it was 77 crore in the corresponding period of the preceding year. Notably PC Jeweller is one of the leading jewellery firms in the country. It has around 50 physical stores across 12 states.