Kalyan Jewellers Reports ₹308 Crore Profit in H1 FY25, Revenue Soars 32%
13th November 2024
Kalyan Jewellers India Ltd has posted a consolidated Profit After Tax (PAT) of ₹308 crore for the first half of FY25 (H1 FY25), marking a 10.8% increase compared to ₹278 crore in the same period last year
Revenue Performance
The company’s consolidated revenue for H1 FY25 reached ₹11,601 crore, up 32% from ₹8,790 crore during the corresponding period in the previous year.
For Q2 FY25, Kalyan Jewellers achieved consolidated revenue of ₹6,065 crore and PAT of ₹130 crore. However, this quarter also saw a one-time loss of ₹69 crore due to a reduction in customs duty in India.
Standalone and Regional Performance
On a standalone basis, Kalyan Jewellers generated revenue of ₹9,914 crore for H1 FY25, compared to ₹7,395 crore for H1 FY24. The India operations recorded a PAT of ₹285 crore for the first half, up from ₹254 crore in the same period last year. In Q2 FY25, standalone revenue stood at ₹5,227 crore, with a PAT of ₹120 crore.
Revenue from the company’s Middle East operations for H1 FY25 was ₹1,611 crore, an increase from ₹1,329 crore in the previous year. The Middle East segment recorded a PAT of ₹33 crore, compared to ₹29 crore in H1 FY24. In Q2 FY25, the Middle East operations reported revenue of ₹800 crore and PAT of ₹14 crore.
E-commerce Growth
The e-commerce division, Candere, also demonstrated strong growth, with revenue increasing to ₹80 crore in H1 FY25, compared to ₹66 crore in H1 FY24.
Comment from Ramesh Kalyanaraman, Executive Director
Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers India Ltd, commented, “We are extremely excited with the way the current year has progressed thus far, despite volatile gold prices and the ongoing quarter also witnessing robust footfalls. We recorded Same Store Sales Growth (SSSG) in excess of 20% for the Diwali minus 30 days period when compared to the base year. We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note.”
Q2 FY25 Results: Net Profit Declines, Revenue Grows
In its September quarter (Q2 FY25), Kalyan Jewellers reported a slight decline of 3.3% in net profit, which stood at ₹130 crore, compared to ₹134.8 crore in the same period last year.
Despite the dip in profit, the company achieved a remarkable 237% year-on-year growth in revenue, reaching ₹6,065 crore. EBITDA for Q2 FY25 also saw an increase of 4.3%, amounting to ₹327.1 crore, up from ₹313.6 crore in Q2 FY24. However, the margin dipped by 170 basis points to 5.4%.
Stock Market Update
Kalyan Jewellers’ shares were trading 3.90% lower on Wednesday at ₹676.85. Despite the slight dip, the stock has seen a remarkable rally, gaining over 85% so far this year.
