Kalyan Jewellers Q2 consolidated PAT up 27.33% at Rs 134.87 cr

Mumbai: Jewellery retailer Kalyan Jewellers on Tuesday reported a 27.33 per cent on-year growth in consolidated profit after tax (PAT) during the quarter ended September 30, at Rs 134.87 crore.

The company's PAT stood at Rs 105.92 crore in the corresponding period of the previous financial year, the jewellery retailer said in a regulatory filing.

Revenue from operations of the company grew by 27.11 per cent during the quarter under review at Rs 4,414.53 crore, compared to Rs 3,472.91 crores in the same period of the previous fiscal.

Total revenue from the company's Middle East operations during the second quarter FY24 was at Rs 629 crore, as against Rs 601 crore in the same period of the previous financial year, a growth of 5 per cent.

The Middle East operations recorded PAT of Rs 12 crore for the quarter, compared to Rs 14 crore for the corresponding period in the previous year, a dip of 14.28 per cent.

The e-commerce division of the company, Candere, recorded a revenue of Rs 31 crore in the second quarter of FY24, compared to Rs 37 crore in the same period in FY23, a decline of 16.21 per cent.

"It has been a fantastic year so far. Revenue growth for the first half of the current financial year was 29 per cent. We are extremely excited with the way the festive quarter has progressed thus far despite a higher number of Shradh days and volatile gold prices.

"We have witnessed revenue growth of 35 per cent for the current quarter till 12th of November when compared to the same period during the prior year," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.