Shares of BlueStone, an omnichannel jewellery company backed by Accel, surged as much as 20% to ₹729 on the BSE after it reported a net profit of ₹6 crore in Q1 FY27, reversing a net loss of ₹34.7 crore in the year-ago period. The company’s operating revenue grew 50% year-on-year to ₹736.8 crore, with its market capitalization reaching ₹10,972 crore ($1.1 billion), according to inc42.com.
BlueStone’s standalone adjusted profit after tax (PAT) stood at ₹14 crore for the quarter, compared to a loss of ₹21 crore in Q1 FY26. The company saw a sequential PAT decline of 80% from ₹31.2 crore in Q4 FY26 but reported a 39% year-on-year same store sales growth (SSSG). It expanded its physical presence by adding 12 new stores and entering five new Tier-II and Tier-III cities, bringing its total store count to 352 across 139 cities, inc42.com detailed.
The company highlighted resilient consumer demand despite volatility in gold prices and noted that repeat customers accounted for nearly 60% of sales. BlueStone views its direct-to-consumer (D2C) website as a discovery channel and expects same-store sales growth to become a key driver alongside new store additions. The firm plans to focus on growth in non-metro markets, a segment it sees significant potential in, inc42.com reported.
BlueStone aims to nearly double its store count to 706 by FY30, reinforcing its strategy to deepen penetration in existing markets and expand in smaller cities. The company’s performance in Q1 FY27 marks its third consecutive profitable quarter, underscoring its recovery and growth trajectory in the competitive jewellery retail space, according to inc42.com.