Kalyan Jewellers Reports 21% YoY Growth in Q3 Net Profit, Registers 34% Surge in Revenue

31 Jan 2024 , 12:55 PM

Kalyan Jewellers reported a consolidated net profit of ₹180.3 Crore for Q3 FY24, marking a 21% YoY growth. Revenue stood at ₹5,223 Crore, a 34% increase from ₹3,884 Crore in the same quarter last year.

Earnings before interest, tax, depreciation, and amortization (EBIDTA) for the quarter reached ₹369.7 Crore, growing by 13%. EBIDTA margin was at 7.1%, down from 8.4% in the year-ago period.

In Q3 FY24, Middle East operations generated ₹683 Crore in total revenue, a growth of over 6% compared to ₹641 Crore in the same period the previous fiscal year.

Middle East operations reported a Profit After Tax (PAT) of approximately ₹14 Crore, contrasting with the ₹17 Crore PAT in the corresponding period of the prior year.

Candere, a subsidiary, achieved Q3 FY24 revenue of around ₹29 Crore, compared to ₹44 Crore in Q3 FY23. It incurred a loss of ₹1.6 Crore, slightly lower than the ₹1.7 Crore loss in the same quarter of the previous fiscal year.

Ramesh Kalyanaraman, Executive Director, highlighted a consolidated revenue growth of around 31% for the first nine months of the current financial year, driven by robust network expansion and healthy same-store-sales-growth in India.

The ongoing quarter has started well, and the company is optimistic about ending the financial year on a strong note.

For feedback and suggestions, write to us at [e-mail]