Kalyan Jewellers India Limited has posted a consolidated PAT of ₹69 crore in the second quarter of FY22 against a loss of ₹136 crore in the corresponding quarter of the previous fiscal.

Broad-based revenue growth

The consolidated revenue grew by 61 per cent in Q2FY22. The revenue growth was broad-based across geographies with both India and international markets growing at the same pace, a press release said.

Total revenue for the quarter was ₹2,889 crore against ₹1,798 crore. The company recorded EBITDA of ₹228 crore for the quarter compared to ₹18 crore in the same quarter of the previous year.

This was despite the fact that there were lockdown related disruptions in showroom operations during the recently concluded quarter in one of the key markets - Kerala. Showrooms in Kerala resumed full operations only by the second week of August. Total standalone revenue for the company in India for the recently concluded quarter was ₹2,503 crore as against ₹1,556 crore.

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “The company’s performance has been very strong and we remain confident of the current quarter given the continued easing of Covid 19 restrictions as well as the return of buoyancy in consumer sentiments across markets. We are witnessing a continuation in revenue momentum that had started around the same time last year and are encouraged by the trends that we are seeing in our operating performance.”

The Same Store Sales Growth (SSSG) in Non-South markets was 72 per cent compared to the Southern markets, which had an SSSG of 44 per cent. The overall SSSG in India during the quarter was 52 per cent.

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