Kalyan Jewellers Q1 PAT up 33% at Rs 144 cr

Mumbai: Kalyan Jewellers India on Wednesday reported 33 per cent growth in consolidated profit after tax (PAT) at Rs 144 crore for June quarter 2023-24.

PAT stood at Rs 108 crore in the year-ago period, Kalyan Jewellers said in a regulatory filing.

Revenue was up 31 per cent during the quarter under review at Rs 4,376 crore as against Rs 3,333 crore in the corresponding period of the previous year.

India operations recorded a PAT of Rs 129 crore for the quarter compared to Rs 95 crore a year ago.

The Middle East operations recorded a PAT of Rs 17 crore as compared to Rs 14 crore a year ago. The region contributed 16 per cent to the overall consolidated revenue of the company.

Meanwhile, the e-commerce division Candere recorded a loss of Rs 2.2 crore against a loss of Rs 1.2 crore a year ago.

“We have had a very good start to the financial year. The recently concluded quarter has been yet another positive one for Kalyan Jewellers, having witnessed continued robust momentum in both footfalls and revenue across all our markets in India and the Middle East over the past several quarters,” Kalyan Jewellers Executive Director Ramesh Kalyanaraman said.

The company is upbeat about the upcoming showroom launches and is gearing up with fresh collections and campaigns for the upcoming festive and wedding seasons across the country, he said.

“The month of August will witness the launch of our 200th showroom in Jammu - a milestone in our showroom expansion journey,” he added.