Kalyan Jewellers India Ltd on August 9 reported consolidated net profit at Rs 143.5 crore for the June quarter of FY24, rising 33.2 percent from a profit of Rs 107.7 crore in the same quarter of the previous financial year.
Revenue came in at Rs 4375.7 crore, up 31.2 percent from Rs 3,332.6 crore in the year-ago quarter, the company said in a regulatory filing.
Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter was at Rs 322.8 crore growing by 22.2 percent. EBIDTA margin was at 7.4 percent and declined by 50 basis points YoY. One basis point is one-hundredth of a percentage point.
"We are upbeat about the upcoming new showroom launches and are gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country." said Ramesh Kalyanaraman, Executive Director.
The India operations recorded PAT of Rs 129 crore for the quarter compared a growth of 35 percent, the company said in a press release.
Total revenue from the Middle East operations during Q1 FY24 was Rs 700 crore as against Rs 574 crore in Q1 of the previous financial year, a growth of 22 percent. The Middle East operations recorded PAT of Rs 17 crore for the quarter compared to a PAT of Rs 14 crore in the corresponding quarter of the previous year, a growth of 24 percent. The Middle East region contributed 16 percent to the overall consolidated revenue of the
company.
The e-commerce division, Candere, recorded a revenue of Rs 34 crore for the quarter versus Rs 44 crore in the corresponding quarter of the previous year. The quarter recorded a loss of Rs 2.2 crore as against a loss of Rs 1.2 crore for the corresponding quarter of the previous year.
Following the earnings, share price of Kalyan Jewellers rose 3.72 percent to Rs 184.25 as of 12:32 pm on NSE.
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