fbpx
Connect with us
RJI

Daily News

Kalyan Jewellers Q3 results: Profit up 22% YoY at Rs 180 crore; revenue jumps 34%

Published

on

RJI

The Middle East operations recorded a PAT of Rs 14 crore for the quarter compared to a PAT of Rs 17 crore for the corresponding period in the previous year. Candere recorded a revenue of Rs 29 crore in Q3 FY24 versus Rs 44 crore in Q3 FY23

Thrissur: Kalyan Jewellers India Ltd on Wednesday reported consolidated revenue of Rs 5,223 crore during the third quarter of ongoing financial year 2023-24 (Q3 FY24) as against Rs 3,884 crore in the corresponding period last fiscal, registering a growth of over 34%. Consolidated PAT (profit after tax) for Q3 FY24 was up around 22% at Rs 180 crore, as against a PAT of Rs 148 crore in the year-ago period.

“The standalone revenue for the company (India) in Q3 FY24, was Rs 4,512 crore, compared to Rs 3,219 crore in Q3 of the previous financial year, a growth of over 40%. The India operations recorded a PAT of Rs 168 crore for the quarter compared to a PAT of Rs 133 crore for the corresponding period in the previous year, a growth of 26%,” the Thrissur-based jewellery retailer said.

“Total revenue from the Middle East operations during Q3 FY24 was Rs 683 crore as against Rs 641 crore in Q3 of the previous financial year, a growth of over 6%. The Middle East operations recorded a PAT of Rs 14 crore for the quarter compared to a PAT of Rs 17 crore for the corresponding period in the previous year. Candere recorded a revenue of Rs 29 crore in Q3 FY24 versus Rs 44 crore in Q3 FY23. The company recorded a loss of Rs 1.6 crore in Q3 FY24 as against a loss of Rs 1.7 crore in Q3 FY23,” Kalyan added.

RJI

Ramesh Kalyanaraman, Executive Director at Kalyan Jewellers, said, “It has been a fantastic financial year so far. Performance across all quarters has been excellent. Consolidated revenue growth for the first nine months of the current financial year is around 31% and revenue growth in India is 36% driven by robust network expansion along with healthy same-store-sales growth. The ongoing quarter has also started off well and we are looking forward to ending the financial year on a strong note.”

Shares of Kalyan Jewellers were last seen trading 0.24% lower at Rs 367.45. Bourses BSE and NSE have put the securities of Kalyan under the long-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

The counter traded higher than the 5-day, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs) but lower than the 10-day and 20-day SMAs. The scrip’s 14-day relative strength index (RSI) came at 55.71. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company’s stock has a price-to-equity (P/E) ratio of 83.62 against a price-to-book (P/B) value of 9.85.

As of December 2023, promoters held 60.55% stake in the company.

Courtesy: businesstoday.in

Continue Reading
Advertisement

Latest News

RJI