Kalyan Jewellers reported a 27.33 percent year-on-year increase in consolidated profit after tax (PAT) for the quarter ended September 30, at Rs 134.87 crore on Tuesday.
In the previous fiscal year, the company's PAT was Rs 105.92 crore, according to a regulatory filing by the jewelry merchant. The company's revenue from operations increased by 27.11 percent during the quarter under review, reaching Rs 4,414.53 crore, up from Rs 3,472.91 crore in the same period the previous year.
Total sales from the company's Middle East activities was Rs 629 crore in the second quarter of FY24, up from Rs 601 crore in the same period the previous fiscal year, representing a 5% increase. The Middle East business reported PAT of Rs 12 crore for the quarter, a 14.28% decrease from Rs 14 crore in the previous year's similar period.
Candere, the company's e-commerce division, reported revenue of Rs 31 crore in the second quarter of FY24, compared to Rs 37 crore in the same time in FY23, a 16.21% decrease.
"It's been an incredible year so far." Revenue growth for the first half of the current financial year was 29 per cent. Despite a higher number of Shradh days and unpredictable gold prices, we are really pleased with how the festive quarter has fared thus far.
"We have seen revenue growth of 35% for the current quarter until November 12th when compared to the same period last year," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.
