Jewellery retailer Kalyan Jewellers on Tuesday reported a 3.37 per cent decline in consolidated profit after tax (PAT) to Rs 130.32 crore during the September quarter. The company's PAT stood at Rs 134.87 crore in the year-ago period, Kalyan Jewellers said in a regulatory filing. Revenue from operations of the company witnessed a 37.39 per cent growth during the quarter under review at Rs 6,065.48 crore compared to Rs 4,414.53 crore in the same period of the previous year. The company said there was a one-time loss of Rs 69 crore due to reduction in customs duty in India during the second quarter of FY25. "We are extremely excited with the way the current year has progressed thus far, despite volatile gold prices and the ongoing quarter is also witnessing robust footfalls. We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.
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Jewellery retailer Kalyan Jewellers on Monday said its revenue from India operations witnessed an on-year growth of around 39 per cent during the second quarter of 2024-25, led by robust footfalls across markets with a healthy same-store-sales-growth. "Our India operations witnessed revenue growth of approximately 39 per cent during the second quarter of FY25, compared to the same period of FY24, led by robust operating momentum on the ground across all markets with healthy same-store-sales-growth of approximately 23 per cent," Kalyan Jewellers said in a regulatory BSE. Custom duty reduction on gold imports, announced during the 2024-25 Union Budget, resulted in significantly higher levels of footfalls from the last week of July till the end of August, mostly negating the impact of 14 days of Shradh (when sales are typically more muted) and extreme volatility in gold prices, the company said. In the Middle East, the jewellery retailer witnessed revenue growth of 24 per cent compared
Shares of the jewellery retailer rose 9 per cent to end at Rs 597.5 on the BSE
Kalyan Jewellers stock surged on the BSE after the company's promoter TS Kalyanaraman plans to increase his stake
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India Budget news 2024: Customs duty on gold and silver has been reduced to 6% which may lead to a decline in domestic prices and perhaps lift demand
Kalyan Jewellers on Friday reported a 27 per cent year-on-year increase in consolidated revenue for the first quarter of the financial year 2024-25, driven by strong performance in both Indian and Middle Eastern markets. The company had reported a consolidated net revenue of Rs 4,376 crore in the first quarter (April-June) of the 2023-24 fiscal year. India operations saw a 29 per cent revenue growth during the first quarter of this fiscal, compared to the corresponding quarter of the previous fiscal year, with a 12 per cent same-store-sales growth, the company said in a regulatory filing. The revenue from Middle East operations was up 16 per cent, contributing 15 per cent to the consolidated revenue. The company said 13 new franchisee-owned-company-operated (FOCO) showrooms were opened during the April-June period this year in India, while the digital platform Candere recorded a 13 per cent revenue growth. The company said it plans to convert its Candere business into a wholly-own
Overall, the jewelley sector has seen an approximately 8 per cent revenue CAGR during FY19-24, reaching Rs 6,40,000 crore in market value, with the organised segment growing at 18-19 per cent