Kalyan Jewellers Profit Soars 63%

Kalyan Jewellers India Ltd announced robust financial results for the September quarter, reporting a 63.6% year-on-year increase in consolidated net profit to ₹427 crore. This marks a substantial improvement from the ₹261 crore profit recorded in the same period last year.

Revenue from operations saw a significant jump of 31.4%, reaching ₹10,323 crore compared to ₹7,856 crore in the prior year. The company's earnings before interest, tax, depreciation, and amortisation (EBITDA) also grew by 29.7% to ₹644.7 crore.

A key highlight for the quarter was Kalyan Jewellers reducing its gold metal loan (GML) debt to zero. Additionally, the company completed the sale of non-core real estate assets, realizing approximately ₹86 crore and expecting to finalize another sale worth ₹16 crore.

Performance in India operations showed a strong same-store sales growth of approximately 20%. International operations also contributed positively, with revenue growth around 18%, and the West Asia region showing approximately 12% growth. The digital brand, Candere, experienced remarkable revenue growth of about 64%.