Kalyan Jewellers posts 104 per cent growth in consolidated revenue in Q1 of FY23

BL Kochi Bureau | | Updated on: Aug 04, 2022

Net profit in the quarter stood at Rs 108 crore as against a loss of Rs 51 crore in the same previous quarter

Kalyan Jewellers India Ltd has recorded a consolidated revenue of Rs 3,333 crore for Q1 of FY23, a 104 per cent growth compared to Rs 1,637 crore in the corresponding quarter of the previous year.

Consolidated PAT for the quarter was at Rs 108 crore, compared to a loss of Rs 51 crore for the same period of the previous year. Aided by industry tailwinds and strong execution, Kalyan’s business has seen a significant acceleration in scale, growth and profitability, recording a consolidated PAT of Rs 383 crore in the last 12 months, higher than the pre-Covid (FY20) levels of Rs 142 crore, a statement said.

Standalone revenue (India) was at Rs 2,719 crore compared to Rs 1,274 crore in Q1 of the previous year. PAT in India for the quarter was Rs 95 crore, compared to a loss of Rs 43 crore in the corresponding quarter of the previous year.

The e-commerce division, Candere, recorded a revenue of Rs 44 crore, against Rs 24 crore in the corresponding quarter of the previous year .

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Ltd said, “the recently concluded quarter has been a positive one, having witnessed robust momentum in both footfalls and revenue across India and the West Asian markets. Revenue momentum in the current quarter has remained encouraging, thus far, and we are looking forward to the upcoming festive season.”

Published on August 04, 2022
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