Kalyan Jewellers tumbles after Q4 PAT slips 2.55% YoY

11 May 2022 , 01:01 PM

On a consolidated basis, the company recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs 218 crore during Q4 FY22, down 4.39% compared with Rs 228 crore in the same quarter of the previous year. The standalone India operations recorded revenue of Rs 2399 crore as against Rs 2615 crore in Q4 of the previous financial year. Total revenue from the Middle East operations during Q4 FY22 was Rs 425 crore, at similar levels to the corresponding quarter of the previous year. The Middle East region contributed about 15% to the overall consolidated revenue of the company. Currently, the companys retail footprint is spread across 154 stores in 21 Indian states and 4 countries in the Middle East, with a retail area exceeding 5,40,000 sq. ft. The companys e-commerce division Candere reported revenue of Rs 39 crore versus Rs 22 crore in Q4-FY21, a growth of 78%. The quarter recorded a loss of Rs 2.7 crore versus a profit of Rs 0.53 crore for the corresponding quarter of the previous year. For FY2022, the company recorded a consolidated revenue of Rs 10818 crore, the highest revenue in the history of the company so far despite disruptions to business due to COVID 2nd and 3rd waves during the year. The consolidated PAT for FY2022 was Rs 224 crore. Ramesh Kalyanaraman, executive director, Kalyan Jewellers India said: Q4 started with a very high base and also faced disruptions to showroom operations during the first half of the quarter due to Omicron driven wave. The quarter also saw extreme volatility in gold prices driven by the geo- political situation in Ukraine and its related impact on demand. We ended the quarter with a marginal de-growth but as a team we are very satisfied with the outcome. This Akshaya Tritiya (FY2022-23) was excellent with significant traction across all regions including the non-south markets. We witnessed significant growth not just in terms of value but footfalls as well. April and the first week of May have been very encouraging both in India as well as the Middle East and are in line with our plan for the current year, he added. Headquartered in Thrissur in the state of Kerala, Kalyan Jewellers is one the largest jewellery retailers in India with a presence in the Middle East. It offers an array of traditional and contemporary jewellery designs in gold, diamonds and precious stones catering to the distinct needs of the customers. Kalyan Jewellers has 154 showrooms across India and the Middle East. Powered by Capital Market – Live News