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Kalyan Jewellers Q1 Results: Net profit spikes 33% at Rs 143 crore and a rise of 31% in revenue

Aug 9, 2023

By: BlinkX Research Team

On August 9, Kalyan Jewellers India Ltd. announced a consolidated net profit of Rs 143.5 crore for the June quarter of FY24, up 33.2% from Rs 107.7 crore in the same period of the previous financial year.

According to the company's regulatory filing, revenue reached Rs 4,375.7 crore, an increase of 31.2% from Rs 3,332.6 crore in the same period last year.

EBITDA increased by 22.2% to Rs 322.8 crore during the quarter. The EBITDA margin was 7.4% and fell by 50 basis points YoY.

According to a press report from the company, India operations reported a PAT of Rs 129 crore for the quarter, representing an increase of 35%.

The total revenue from Middle East operations in Q1 FY24 increased by 22% to Rs 700 crore from Rs 574 crore in Q1 of the previous fiscal year. The Middle East operations had a PAT increase of 24%, from Rs 14 crore in the same quarter of the previous year to Rs 17 crore. 16% of the company's total consolidated revenue came from the Middle East.

Compared to Rs 44 crore in the same quarter the previous year, the e-commerce division, Candere, reported Rs 34 crore in revenue for the period. Compared to the same quarter the previous year, the quarter current year had a loss of Rs 2.2 crore as compared to Rs 1.2 crore.

Content source: Media Reports