Kalyan Jewellers records double-digit growth in PAT and revenue for Q3FY22

3 Feb 2022 , 01:48 PM

Kalyan Jewellers Ltd. has announced financial results for the quarter ended December 2021. It recorded a consolidated PAT growth of 16% and a revenue growth of 17% over the same quarter of the previous year.

Total revenue for the December 2021 quarter was Rs 3,435 Crores, against total revenue of Rs 2,936 Crores for the same previous corresponding period. The company recorded Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of Rs 299 Crores during Q3 FY22 as against Rs 288 Crores in the same quarter of the previous year, reflecting a marginal growth of 3.82% YoY.

Its Consolidated PAT for the December 2021 quarter was Rs 135 crores as against a PAT of Rs 115 crores in the previous corresponding quarter, registering a growth of 17.39% YoY. Standalone PAT from the India operations during Q3 FY22 stood at Rs 118 crores as against Rs 94 crores in Q3 FY21, reflecting a growth of 25.53% YoY.

The company’s Indian business reported revenue growth of approximately 15% during the recently concluded quarter, against the same period in the last financial year. Total standalone revenue for Q3 FY’22 was seen at Rs 2,880 Crores, as against Rs 2497 Crores in Q3 of the last financial year, up by 15.33% YoY.

In the Middle East, the company witnessed a significant improvement in customer sentiment during the quarter, resulting in revenue growth of 24% compared to the same quarter in the last financial year. Total revenue from the Middle East operations during Q3 FY22 stood at Rs 515 crores as compared to Rs 417 crores for the previous corresponding quarter.

Kalyan Jewellers is currently trading at Rs68.50 down by Rs1.15 or 1.65% from its previous closing of Rs69.65 on the BSE.