BlueStone Jewellery and Lifestyle Ltd on Thursday (October 22) reported a net loss of ₹3.2 crore for the quarter ended September 30, 2026, compared with a loss of ₹52 crore in the year-ago period.
The company reported a profit for the fourth consecutive quarter, following FY26, its first full year of profitability. Revenue grew 45% year-on-year to ₹745 crore from ₹514 crore, while revenue for the first half of FY27 rose 46.3% to ₹1,471 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to ₹95 crore in Q2 FY27 from ₹42 crore a year earlier. The EBITDA margin expanded to 12.7% from 8.1% in the corresponding quarter last year.
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Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to ₹207.3 crore in H1 FY27, while the EBITDA margin expanded by 422 basis points year-on-year to 14.1%.
It recorded same-store sales growth (SSSG) of 32.9% in H1 FY27. The company crossed the one-million-customer milestone during the quarter, with its customer base reaching 10,24,220 at the end of September 2026, up 19.3% year-on-year. Repeat customers contributed 56.3% of Q2 FY27 revenue, compared with 51.4% in the year-ago period.
BlueStone had 379 stores across 146 cities as of September 2026, adding 68 stores and entering 19 more cities year-on-year. All seven cities entered during Q2 FY27 were Tier 2 and Tier 3 markets. The company also opened a new flagship store on Park Street in Kolkata.
More than 80% of BlueStone’s sales originate online, according to the company. Almost all its business comes from non-wedding jewellery.
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BlueStone Jewellery’s revenue grew 43.9% year-on-year in Q2 FY27, which the company said was ahead of the category. More than 80% of its sales originate online, while almost all its business comes from non-wedding jewellery, which the company described as the faster-growing segment of the market.
BlueStone’s customer base crossed one million during the quarter, reaching 10,24,220 at the end of September 2026, up 19.3% year-on-year. Repeat customers contributed 56.3% of Q2 FY27 revenue, compared with 51.4% in the year-ago period.
Separately, the company’s board approved raising up to ₹300 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis, in one or more series or tranches.
The proceeds are proposed to be used for refinancing a portion of existing debt and meeting business growth requirements, including capital expenditure, working capital and general corporate needs. The board has authorised the Operations Committee to finalise the terms and conditions of the allotment.
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BlueStone’s founder and CEO Gaurav Singh Kushwaha said, “Crossing one million customers is the milestone I am proudest of this quarter. Most of those customers first met us on a screen, and still chose us for something as precious as jewellery.
More than half of what we sold this quarter went to customers coming back to us. That is why our growth keeps running ahead of the category even as our marketing spend falls as a share of revenue.
We earn that trust one promise at a time: a money -back policy we have honoured since our first sale, every piece designed and made by us, and a store close enough to see a piece before buying it, now in 146 cities.
This quarter we entered seven new cities, all beyond the metros, and opened our Park Street flagship with a handcrafted and antique range. Modern jewellery does not have to leave tradition behind. It has to make tradition wearable.”
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Shares of BlueStone Jewellery and Lifestyle Ltd ended at ₹759.30, up by ₹19.45, or 2.63%, on the BSE.