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Bluestone Turns Profitable as Q3 FY26 Revenue Rises 27.5% to Rs 748 Crore

Omnichannel jewellery retailer reports first-ever quarterly profit of Rs 68.8 crore; expenses grow slower than revenues

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Omnichannel jewellery retailer Bluestone reported its first-ever profit in the third quarter of FY26, supported by strong revenue growth and operating leverage from its expanding retail network.

The company posted an operating revenue of Rs 748.6 crore in Q3 FY26, marking a 27.5% year-on-year (YoY) increase from Rs 587 crore in the same quarter last year. During the quarter, Bluestone recorded a net profit of Rs 68.8 crore, compared with a net loss of Rs 26.8 crore a year earlier.

While the company’s expenses rose by 9% to Rs 688.9 crore in the December quarter, up from Rs 629.8 crore a year ago, revenue growth outpaced cost increases, enabling the company to turn profitable for the first time.

Commenting on the performance, Bluestone chief executive Gaurav Singh Kushwaha said the company’s omni-channel model involves front-loaded costs, but as store revenues scale over time, operating leverage begins to emerge. He added that there remains significant runway for further expansion.

According to its investor presentation, Bluestone held a 28–32% market share in the omni-channel jewellery segment in FY25. During the December quarter, the company added 12 new stores, taking its total retail footprint to 323 stores across India.

Bluestone listed on Indian stock exchanges in August last year, raising Rs 1,540 crore. Of this, Rs 750 crore was earmarked for working capital requirements, with Rs 525 crore utilised as of December 31, 2025.

Following the announcement of its Q3 results, Bluestone’s shares rose 11.96% to close at Rs 474.75 on the BSE on Thursday.

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Heer by GIVA Launches ‘She Is Not a Campaign’, Celebrating Women Beyond Performative Empowerment

Heer by GIVA launches a thought-provoking campaign that shifts the focus from performative empowerment to the authentic, everyday realities of modern womanhood

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Heer by GIVA, GIVA’s gold and lab-grown diamond jewellery brand, has unveiled its Women’s Day campaign titled “She Is Not a Campaign.” The initiative challenges the performative narratives often associated with Women’s Day, choosing instead to celebrate the quiet, honest realities of womanhood.

Every year, women are expected to embody inspiration, strength, and limitless ambition on cue. But real women don’t wake up every day to perform empowerment. Through this campaign, Heer by GIVA shifts the focus from idealized portrayals to authentic expressions of individuality, softness, contradictions, and everyday choices.

Instead of portraying women as constantly strong or inspirational, the campaign humanizes them, embracing their unfiltered moments, personal choices, and quiet confidence. Because real empowerment isn’t always loud and women don’t exist to become a headline, a hashtag, or a campaign brief.

At the heart of the campaign is a series of thoughtful digital films and visual stories released across Heer by GIVA’s social platforms. The content embraces minimal visuals and emotionally intelligent messaging, capturing moments that feel honest and relatable rather than performative. The campaign has also been amplified through influencer collaborations, where creators share their own interpretations of the message, reflecting on the everyday realities of being a woman rather than presenting curated notions of perfection.

Extending the campaign beyond digital storytelling, Heer by GIVA introduced an interactive out-of-home installation, transforming a routine public space into an experiential campaign touchpoint.

The bus shelter was redesigned using the campaign’s visual language and messaging. At the centre of the installation is a mirror integrated into the display, allowing people waiting at the bus stop to see their own reflection within the artwork.

With She Is Not a Campaign, Heer by GIVA hopes to move the conversation beyond symbolic gestures and toward a more meaningful acknowledgement of women’s experiences.

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