BlueStone revenue from operations grew 45% YoY to Rs 745 crore and its net loss fell by almost 92% to Rs 4.37 crore in FY27 Q2. The company's financials showed better revenue growth along with a considerable drop in quarterly losses.

Key Highlights

• BlueStone revenue from operations increased 45% year-on-year to Rs 745 crore in Q2 FY27, while net loss narrowed significantly.

• For H1 FY27, revenue rose 47.3% to Rs 1,482 crore, and the company reported a net profit of Rs 1.59 crore.

Revenue from operations jumped from Rs 514 crore in Q2 FY26 to Rs 745 crore in Q2 FY27, according to unaudited consolidated financial statements of BlueStone, which were accessed from the National Stock Exchange (NSE). The company also had total income of Rs 769 crore in the quarter, which was higher than Rs 525 crore a year ago.

BlueStone Revenue Grows 47.3% in H1 FY27

In the first half of FY27, BlueStone maintained its impressive revenue growth. Revenue from operations grew by 47.3% to Rs 1,482 crore from Rs 1,006 crore in the same period of the previous financial year.

Selling jewellery continued to be the company's biggest source of revenue. Other income in Q2 FY27 was Rs 24 crore for BlueStone, apart from the revenue from operations. It had reported an income of Rs 752 crore for Q1 FY27, which rose further to Rs 769 crore in Q3 FY27.

The company's first half performance was also a significant improvement on profitability. BlueStone made a net profit of Rs 1.59 crore in H1 FY27, whereas it posted a net loss of Rs 86.85 crore in the corresponding period of FY26.

BlueStone Narrows Q2 FY27 Net Loss to Rs 4.37 Crore

In Q2 FY27, BlueStone reported its net loss at Rs 4.37 crore compared to Rs 52 crore in the same period last year, a 91.6% year-on-year improvement. But the company have reported a net profit of Rs 6 crore in Q1 FY27.

The improvement occurred with an increase in the total expenditure. The total expenses for BlueStone increased by 34% YoY to Rs 772 crore in Q2 FY27, up from Rs 576 crore in Q2 FY26. The expenditure went up 53% from Rs 745 crore in Q1 FY27 on a quarter-on-quarter basis.

Material Costs Remain BlueStone's Biggest Expense

The bulk of BlueStone's expenses remained in materials, as it was in 2013. The company's material cost went up by Rs 470 crore or 51.4% year-on-year during the September quarter.

Employee benefit expenses were at Rs 70.58 crore while finance costs were at Rs 58.37 crore. Depreciation expenses amounted to Rs 63.87 crore.

The cost of materials and the general increase in costs are a reminder of how vital it is to keep costs in check as the jewellery retailer continues to grow its revenues.

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BlueStone Appoints Amit Jain as Independent Director

BlueStone appointed Amit Jain, co-founder and CEO of CarDekho Group as a non-executive independent director of the company in September 2026. The appointment followed the development of the leadership and governance of the company.

BlueStone's shares ended at Rs 760.45 per share and the market capitalization of the company stood at around Rs 11,305 crore at the end of the last trading day mentioned in the report.