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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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Joyalukkas Breaks Two Guinness World Records Titles With The World’s Heaviest and Largest Pair Of Gold Earrings

Record-Breaking Gold Earrings Unveiled By His Excellency Abdulla Bin Touq Al Marri, UAE Minister Of Economy and Tourism, At Jewel Of Joy By Joyalukkas, Dubai Gold District – Now On Public Display

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Joyalukkas Jewellery, one of the world’s largest jewellery retailers, has officially entered the Guinness World Records with two titles – Heaviest pair of gold earrings and Largest pair of earrings – for a monumental pair of handcrafted gold jhumkas. The record-breaking earrings were unveiled today by His Excellency Abdulla Bin Touq Al Marri, Minister of Economy and Tourism of the United Arab Emirates, at Jewel of Joy by Joyalukkas, the biggest jewellery destination in the Middle East, located in Dubai Gold District.

Two records, one extraordinary creation

Named Mayura Sahasra – “A Thousand Peacocks” – the earrings take their inspiration from the peacock, India’s eternal symbol of grace, pride and divine beauty. Legend tells of a peacock that danced at the gates of heaven, shedding a thousand feathers, each carrying a different prayer, wish and dream, which the gods wove into something eternal. Every detail of the design echoes the plumage of a thousand peacocks, united in one timeless masterpiece.

The Gold jhumkas – the traditional bell-shaped earrings of South Asian bridal heritage – were handcrafted over several months by Joyalukkas’ master artisans. The net gold weight of the combined pair of the 22k Gold earrings is 16.514 kg – more than five times the previous world record, both records were verified by Guinness World Records, they will be preserved as a complete pair and displayed permanently at Jewel of Joy by Joyalukkas showroom.

The unveiling ceremony

The earrings were unveiled on Saturday, 24 October 2026 at Jewel of Joy by Joyalukkas in Dubai Gold District by His Excellency Abdulla Bin Touq Al Marri, Minister of Economy and Tourism of the United Arab Emirates, in the presence of Ms. Laila Mohd Suhail , Member of Dubai Golden Jewellery Group , Chair of marketing committee, Former CEO, Strategic Alliances & Partnerships Sector, Dubai Tourism and Economy.  Mr. Rashid Alharmoodi, Senior Director – Commercial, Dubai Gold District, Mr.Levy Pezulu, Senior Policy LEAD, World Gold Council, Mr. Adnan Anwar. CEO of National Bank of Fujairah, UAE. Dr. Joy Alukkas, Chairman, Joyalukkas Group, Mr. John Paul Alukkas, CEO, Joyalukkas Jewellery, Members of the Joyalukkas family and other distinguished dignitaries.

An official Guinness World Records adjudicator presented the certificates for both titles to Dr. Joy Alukkas and Mr. John Paul Alukkas in the presence of His Excellency Abdulla Bin Touq Al Marri, UAE Minister of Economy and Tourism and Invited guests, media and influencers from across the region.

Leadership quotes

Dr. Joy Alukkas, Chairman, Joyalukkas Group:

“For nearly four decades, Joyalukkas has grown alongside Dubai, the City of Gold. These earrings are our tribute to this city and to the artisans whose hands turned an impossible idea into gold. Two Guinness World Records titles in one creation is a proud moment for our family, our teams in 13 countries, and every customer who has trusted us for decades. We are honoured that His Excellency Abdulla Bin Touq Al Marri unveiled them, and we dedicate this achievement to the UAE.”

John Paul Alukkas, CEO, Joyalukkas Jewellery:

“Jewel of Joy was built to be the biggest jewellery destination in the Middle East, and today it becomes home to the heaviest and largest pair of gold earrings in the world. This is not a piece for sale – it is a landmark. We invite residents, tourists and jewellery lovers from everywhere to visit Dubai Gold District, see the earrings for themselves, and experience the craftsmanship that defines Joyalukkas.”

Open to the public at Jewel of Joy

The record-breaking earrings are now on permanent public display at Jewel of Joy by Joyalukkas, Dubai Gold District – the biggest jewellery destination in the Middle East. Entry is free and open to all visitors, tourists and customers during showroom hours, 10AM to 10PM, seven days a week.

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