Kalyan Jewellers Q4 PAT soars 97% YoY to Rs 138 cr

The jewellery retailer's consolidated net profit jumped 96.3% to Rs 137.59 crore on 34.09% increase in revenue from operations to Rs 4,534.93 crore in Q4 FY24 over Q4 FY23.

Profit before tax for the quarter was at Rs 183.67 crore, registering a growth of 93.97% from Rs 94.69 crore posted in Q4 FY23.

EBITDA stood at Rs 306.2 crore in fourth quarter of FY24, registering a growth of 19% as compared with Rs 256.7 crore in Q4 FY23. EBITDA margin contracted to 6.8% in Q4 FY24 as against 7.6% in Q4 FY23.

Total revenue from the Middle East operations during Q4 FY24 was Rs 624.5 crore as against Rs 548.6 crore in same quarter last year, recording a growth of 13.83%. The Middle East operations recorded PAT of Rs 9.9 crore for the quarter, up 76 YoY.

On standalone basis, revenue of the company (India business) in Q4 FY24 was at Rs 3,875.6 crore, registering a growth of 38.14% as against Rs 2,805.4 crore in Q4 FY23. The India operations recorded PAT of Rs 131.3 crore for the quarter, up 98.63% from Rs 66.1 crore for the corresponding period in the previous year.

During the current quarter, they have launched 10 Kalyan showrooms and 7 Candere showrooms in India taking the total number of showrooms across India and Middle East to 270 as on 10 May 2024.

On full year basis, the banks net profit increased 38.06% to Rs 596.28 crore on 31.82% increase in revenue from operations to Rs 18,548.28 crore in FY24 over FY23.

Meanwhile, the board recommended a final dividend of Rs 1.20 per share, for the financial year 2023-24, subject to the approval of the shareholders.

Headquartered in Kerala, Kalyan Jewellers is one the largest jewellery retailers in India with a presence in the Middle East.

Shares of Kalyan Jewellers India shed 2.97% to Rs 398.65 on the BSE.

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