In a notable milestone for India’s growing online jewelry sector, Bluestone has reported its first-ever quarterly profit in Q3 of fiscal year 2026, as revealed in a report titled “Bluestone Posts First-Ever Profit in Q3 FY26; Revenue Climbs to Rs 749 Cr,” published by StartupNews.fyi.
According to the report, Bluestone posted a profit of Rs 12 crore for the third quarter, marking a significant turnaround from previous loss-making quarters. The Bengaluru-based jewelry retailer also recorded revenue of Rs 749 crore for the same period, reflecting growing consumer confidence and operational efficiencies amid a competitive marketplace.
The startup, founded in 2011, has evolved from a primarily online player into a hybrid business model that includes an expanding offline presence. By December 2025, Bluestone operated over 220 stores nationwide, a strategic shift that has played a key role in improving customer acquisition and enhancing brand visibility. Executives at the company attribute recent gains to robust festive season demand, steady store performance, and a leaner cost structure.
This quarterly profitability arrives ahead of the company’s reported plans for a public listing. As per StartupNews.fyi, Bluestone is preparing for an initial public offering (IPO) later in 2026, with the recent financial results likely to bolster investor sentiment. The company’s ability to reverse losses and demonstrate financial sustainability may strengthen its case as a viable player in the fast-evolving jewelry retail sector.
Industry analysts note that Bluestone’s performance aligns with broader trends in India’s luxury retail market, where consumer spending on branded jewelry continues to recover post-pandemic. Competitors such as CaratLane and Tanishq have also expanded aggressively, prompting a shift toward omnichannel strategies across the industry.
While challenges remain—ranging from gold price volatility to rising competition—Bluestone’s Q3 results represent a turning point in its journey from startup to potentially listed enterprise. As it advances towards its IPO, all eyes will be on whether the company can sustain its profitability and scale growth in a crowded and price-sensitive market.
