Kalyan Jewellers India Limited on Wednesday reported its third quarter earnings for the financial year 2023-24 with profit at Rs 180.61 crore, up 21.5 per cent in comparison to Rs 148.70 crore during the corresponding quarter of previous year. It posted revenue from operations at Rs 5223.08 crore, up 34.5 per cent on-year as against Rs 3884.10 crore during the third quarter of FY23. The company EBITDA stood at Rs 369.7 crore, up 13 per cent on-year.
On a standalone basis, the company recorded revenue for Q3FY24 at Rs 4512 crore as against Rs 3219 crore in Q3FY23, posting a growth of over 40 per cent. The India operations, it said, recorded a PAT of Rs 168 crore for the quarter compared to a PAT of Rs 133 crore for the corresponding period in the previous year, posting a growth of ~26 per cent.
Kalyan Jewellers’ total revenue from the Middle East operations during Q3FY24 was at Rs 683 crore as against Rs 641 crore in Q3 of the previous financial year, reporting a growth of over 6 per cent. The Middle East operations recorded a PAT of ~Rs 14 crore for the quarter compared to a PAT of ~Rs 17 crore for the corresponding period in the previous year.
Candere recorded a revenue of ~Rs 29 crore in Q3FY24 versus ~Rs 44 crore in Q3FY23. The company recorded a loss of Rs 1.6 crore in Q3FY24 as against a loss of Rs 1.7 crore in Q3FY23.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited, said, “It has been a fantastic financial year so far. Performance across all quarters has been excellent. Consolidated revenue growth for the first nine months of the current financial year is around 31 per cent and revenue growth in India is ~36 per cent driven by robust network expansion along with healthy same-store-sales-growth. The ongoing quarter has also started off well and we are looking forward to ending the financial year on a strong note.”