Kalyan Jewellers India Ltd recorded a consolidated PAT of ₹148 crore in Q3FY23 against ₹135 crore in the corresponding period of the previous year.
The company recorded a consolidated revenue of ₹3,884 crore (₹3,435 crore), a growth of 13 per cent.
The standalone revenue for the company (India) for the quarter under review was at ₹3,219 crore (₹2,880 crore). The standalone PAT (India) was ₹133 crore (₹118 crore).
e-commerce unit
The e-commerce division, Candere, recorded revenue of ₹44 crore (₹47 crore). In the Middle East, total revenue from operations during the quarter was at ₹641 crore (₹515 crore).
The Middle East region contributed approximately 16.5 per cent to the overall consolidated revenue.
Retail expansion of the brand continued in the recently concluded quarter, with the launch of 6 new showrooms – all in the non-South markets in India.
Strong demand
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited, said, “We are seeing robust momentum in revenue and footfalls across all markets largely driven by the ongoing wedding season demand despite continued spike in gold price. During the recently concluded quarter, we announced our plans to open 52 showrooms during the calendar year 2023. As part of this strategy, we have invested significant amount of time and effort over the last 3-4 months in building our internal resources. We have hired approximately 900 personnel largely for the [20+] showrooms we plan to launch before Akshaya Tritiya – highest employee addition in a quarter in the history of the company so far”.