Kalyan Jewellers India Limited recorded PAT of Rs 219 crore in Q3 FY25
Kalyan Jewellers India Limited recorded consolidated revenue of INR 7287 crore in Q3 FY25 as against INR 5223 crore in the corresponding period of the previous year, a growth of 40%. Consolidated PAT for Q3 FY25 was INR 219 crore as against a PAT of INR 180 crore for the corresponding period in the previous year. Consolidated PAT growth would be 44% adjusting for the loss due to reduction in customs duty (announced during Union Budget in July 2024)
Strong Growth in India Operations
The standalone revenue for the company (India) in Q3 FY25 was INR 6,393 crore, as against INR 4,512 crore in Q3 of the previous financial year, a growth of 42%. The India operations recorded a PAT of INR 218 crore for the quarter compared to a PAT of INR 168 crore for the corresponding period in the previous year. Adjusting for the customs duty loss, the PAT growth would be 54%.
Performance of Middle East Operations
Total revenue from the Middle East operations during Q3 FY25 was INR 840 crore as against INR 683 crore in Q3 FY24, a growth of over 23%. The Middle East operations recorded a PAT of INR 15 crore for the quarter compared to a PAT of INR 14 crore for the corresponding period in the previous year. The PBT grew by 23% over the corresponding quarter of the previous year. However, the PAT growth for Q3 FY25 was impacted due to the introduction of new corporate tax in the UAE.
E-Commerce Division Performance – Candere
The e-commerce division, Candere, recorded a revenue of INR 55 crore in Q3 FY25 versus INR 29 crore in Q3 FY24. The company recorded a loss of INR 6.9 crore in Q3 FY25 versus a loss of INR 1.6 crore during Q3 FY24.
Statement from Kalyan Jewellers’ Executive Director
Mr. Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited, said, “We are extremely excited with the way the current year has progressed. 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.“
About Kalyan Jewellers:
Headquartered in Thrissur in the state of Kerala, Kalyan Jewellers is one of the largest jewellery retailers in India with a presence in the Middle East and the USA. The company has enjoyed a longstanding presence in the Indian market for over three decades and has set industry benchmarks in quality, transparency, pricing, and innovation. Kalyan offers an array of traditional and contemporary jewellery designs in gold, diamonds, and precious stones catering to the distinct needs of customers. Kalyan Jewellers has 349 showrooms across India, the USA, and the Middle East, with a retail area exceeding 9,08,000 sq. ft.
