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Kalyan Jewellers India Ltd. reported Q3 consolidated net profit rose 22% to ₹219 crore from ₹180 crore in the year-earlier period. “Consolidated PAT growth would be 44% adjusting for the loss due to reduction in customs duty announced during Union Budget in July 2024,” the company said in a statement..
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The company reported a 40%. jump in revenue to ₹7,287 crore from ₹5,223 crore a year earlier. India operations recorded PAT of ₹218 crore compared with ₹168 crore a year earlier. “Adjusting for the customs duty loss, the PAT growth would be 54%,” the company said.
Total revenue from the Middle East operations was ₹840 crore as against ₹683 crore a year earlier, up 23%. The Middle East operations recorded PAT of ₹15 crore against ₹14 crore a year earlier.
The PAT growth for quarter was impacted due to the introduction of new corporate tax in the UAE.
The e-commerce division, Candere, recorded a revenue of ₹55 crore against ₹29 crore a year earlier.
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The division recorded a loss of ₹6.9 crore versus a loss of ₹1.6 crore a year earlier.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Ltd., said, “The current quarter has started off well despite the volatility in gold prices. We are upbeat about the ongoing wedding season and expect to end the financial year on a strong note.
“We are on track for the launch of 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter,” he added.
Published – January 30, 2025 08:26 pm IST
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Kalyan Jewellers Q3 net profit surges 22% to ₹219 crore
