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Kalyan Jewellers India Limited recorded PAT of Rs. 144 crores in Q1FY24, a Growth of ~33%

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According to the brand, the financial year has been off to a good start, considering the steady thrust in terms of footfalls and revenue in their Indian and Middle East markets as well as their new showroom launches and fresh jewellery collections

Kalyan Jewellers India Limited recorded a consolidated revenue of Rs. 4,376 crores for Q1FY24 as against Rs. 3,333 crores in the corresponding quarter of the previous year, a growth of 31%. The consolidated PAT for the quarter was at Rs. 144 crores as against a PAT of Rs 108 crores for the same period of the previous year, a growth of ~33%.

The standalone revenue for the company (India) in Q1 FY24, was Rs. 3,641 crores, as against Rs. 2,719 crores in Q1 of the previous financial year, a growth of ~34%. The India operations recorded PAT of Rs. 129 crores for the quarter compared to a PAT of Rs. 95 crores in the corresponding quarter of the previous year, a growth of ~35%.

The total revenue from the Middle East operations during Q1 FY24 was Rs. 700 crores as against Rs. 574 crores in Q1 of the previous financial year, a growth of ~22%. The Middle East operations recorded PAT of Rs. ~17 crores for the quarter compared to a PAT of Rs. ~14 crores in the corresponding quarter of the previous year, a growth of ~24%.

The Middle East region contributed ~16% to the overall consolidated revenue of the company.

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The e-commerce division, Candere, recorded a revenue of Rs. 34 crores for the quarter versus Rs. 44 crores in the corresponding quarter of the previous year. The quarter recorded a loss of Rs. 2.2 crores as against a loss of Rs. 1.2 crores for the corresponding quarter of the previous year.

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We have had a very good start to the financial year. The recently concluded quarter has been yet another positive one for Kalyan Jewellers, having witnessed continued robust momentum in both footfalls and revenue across all our markets in India and Middle East over the past several quarters. 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. The month of August will witness the launch of our 200thshowroom in Jammu – a milestone in our showroom expansion journey.”

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