BlueStone, a big name in India’s online jewelry scene, just announced its first profitable quarter ever in Q3 FY26. This shows that the online business world in India is really coming into its own. This big step forward happened because BlueStone sold more, got better at running things, and became a top online jewelry store in India.
According to what they told the stock exchange, their sales went up 28% compared to last year, hitting ₹749 crore in Q3 FY26, up from ₹587 crore. Add in some extra income, and they made a total of ₹759 crore this quarter. Things are looking good for their online and store business plan.
Looking at the nine months leading up to December FY26, BlueStone’s sales jumped 34% to ₹1,755 crore, from ₹1,309 crore last year. This proves that BlueStone is one of the fastest-growing online brands in India, especially when it comes to fancy jewelry and lifestyle products.
What’s really important is that they kept a close eye on costs while growing sales, which helped them make a profit. BlueStone made ₹69 crore in Q3 FY26, a big change from the ₹3 crore loss they had last year. They still have a total loss of ₹18 crore for the nine months, but this quarter shows they’re on the right track.
The biggest cost for them is still materials, which made up about 59% of all spending. They spent ₹409 crore on materials in Q3 FY26, up from ₹369 crore. They also spent more on employees, up 22% to ₹73 crore, because they’re investing in people, design, stores, and tech. Overall, BlueStone’s spending only went up by 10% to ₹689 crore, which means they’re getting better at managing things as they get bigger.
BlueStone makes money by selling jewelry made of gold, diamonds, and other gems through their website and stores. This shows their straightforward business model is working well. They’ve mixed online shopping with real-life store experiences, which has helped them stand out in India’s changing retail market.
To help them grow, BlueStone recently put ₹25 crore into their Ethereal House branch. This money will help them with their day-to-day needs and expand the business. BlueStone will own up to 74% of it. This shows they’re confident about growing in the online world.
All this happened after BlueStone launched its IPO in August 2025, which everyone was watching. The shares were priced between ₹492 and ₹517, and started trading at ₹510 on August 19, 2025. Lately, BlueStone’s shares closed at ₹474, which means the company is worth about ₹7,175 crore ($783 million).
Even though the stock market can be up and down, BlueStone making a profit gives investors more confidence. It shows that they’re becoming a company that can grow and make money. As more online brands in India get bigger, BlueStone’s story shows that if you sell a lot, control your supplies, have a good online and store plan, and build trust, you can succeed.
Since people still want jewelry and are buying more from trusted online brands, BlueStone seems likely to do well in India’s growing online market in the future.
