Kalyan Jewellers India Q2 PAT up 54.02% at Rs 105.92 crore

Kalyan Jewellers India on Thursday reported a 54.02 per cent growth in consolidated profit after tax (PAT) at Rs 105.92 crore during the quarter ended September 30.

The jewellery retailer's PAT stood at Rs 68.77 crore during the corresponding period of the previous financial year, Kalyan Jewellers India said in a regulatory filing.

Revenue from operations of the company grew by 20.22 per cent during the quarter under review to Rs 3,472.91 crore, compared to Rs 2,888.69 crore in the same period a year-ago.

Meanwhile, in the Middle East, total revenue from operations of the company during the second quarter of FY23 was at Rs 601 crore, as against Rs 360 crore in the same period last year.

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Retail expansion of the brand continued in the July-September quarter, with the launch of five new showrooms – all in the non-South markets in the country.

This includes the launch of the first physical experience center of its e-commerce platform -- Candere, the company said.

As of September 30, 2022, Kalyan Jewellers' store network across India and the Middle East stood at 163, it added.

"We are satisfied with the performance during the recently concluded quarter and are extremely excited with the way the current quarter has started despite last year's high base.

"We have witnessed a revenue growth of approximately 25 per cent for the festive period of 31 days approaching Diwali, when compared to the same period last year and are looking forward to a strong end to the quarter," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman stated.

Shares of the company on Thursday were trading at Rs 103.35, down 3.64 per cent on BSE.