Kalyan Jewellers India, on Wednesday, has reported a decline of 3.3 per cent in consolidated net profit at Rs 130.32 crore in the second quarter (Q2) that ended September 2024 due to reduction in customs duty in India during Q2 FY25. The consolidated PAT of Rs 134.87 crore in the same period of the previous year, as per a regulatory filing.
Its PAT stood at Rs 177.55 crore in the previous quarter ended June 2024.
However, the jewellery retailer’s revenue from operations increased 37.3 per cent to Rs 6,065.4 crore in Q2 FY25 as against Rs 4,414.53 in Q2 FY24.
Also, its total expenses increased to Rs 5,913.53 crore in Q2 FY25, as compared to Rs 4,249.52 crore in Q2 FY24, according the BSE filing.
The e-commerce division, Candere, has recorded a revenue of Rs 80 crore in H1 FY25 versus Rs 66 crore in H1 FY24 with a loss of Rs 6 crore in H1 FY25 versus a loss of Rs 4.8 Cr during H1 FY24. Its revenue and net loss for Q2 FY25 was Rs 41 crore and Rs 3.8 crore respectively.
Ramesh Kalyanaraman, executive director of the company said, “We are extremely excited with the way the current year has progressed thus far, despite volatile gold prices and the ongoing quarter is also witnessing robust footfalls. We recorded SSSG in excess of 20 per cent for the Diwali minus 30 days period when compared to the base year.”
Further he said, “We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note.”
