 "Kalyan Jewellers shares up 8%, hovers near upper circuit on posting Q3 nos")
Kalyan Jewellers India shares jumped 7.6 per cent on Friday, logging an intraday high at Rs 466.55 per share, which was just 2 per cent away from its upper circuit of Rs 484.3 per share on BSE. The stock climbed after the company posted healthy Q3 results.
Around 9:22 AM, Kalyan Jewellers share price was up 5.58 per cent at Rs 464.85 per share on BSE. In comparison, the BSE Sensex was up 0.18 per cent at 76,897.97. The market capitalisation of the company stood at Rs 47,951.43 crore. The 52-week high of the stock was at Rs 794.6 per share and the 52-week low was at Rs 322.05 per share.
On Thursday, after market hours, Kalyan Jewellers reported a consolidated net profit of Rs 218.82 crore as compared to Rs 180.61 crore a year ago, up 21 per cent.
The revenue of the company rose 39.5 per cent to Rs 7286.884 crore for the third quarter compared to Rs 5223.077 crore in the year-ago period.
As per the filing, the company's India operations recorded profit after tax (PAT) of Rs 218 crore for the quarter compared to a PAT of Rs 168 crore for the corresponding period in the previous year. Adjusting for the customs duty loss the PAT growth would be 54 per cent.
The total revenue from the Middle East operations during Q3 FY25 was Rs 840 crore as against Rs 683 crore in Q3 FY24, a growth of over 23 per cent. The Middle East operations recorded PAT of Rs 15 crore for the quarter compared to a PAT of Rs 14 crore for the corresponding period in the previous year.
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The e-commerce division, Candere, recorded a revenue of Rs 55 crore in Q3 FY25 against Rs 29 crore in Q3 FY24. The company recorded a loss of Rs 6.9 crore in Q3 FY25 against a loss of Rs 1.6 crore during Q3 FY24.
“We are extremely excited with the way the current year has progressed. The current quarter has started off well despite the volatility in gold prices. We are upbeat about the ongoing wedding season and expect to end the financial year on a strong note. We are on track for the launch of 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter," said Ramesh Kalyanaraman, executive director, Kalyan Jewellers India.
In the past one year, Kalyan Jewellers shares have gained 25.69 per cent against Sensex's rise of 7 per cent.