Kalyan Jewellers Q2 PAT Jumps 55% To Rs 105.92 Cr

Kalyan Jewellers India has 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 PAT stood at Rs 68.77 crore during the corresponding period of the previous financial year, Kalyan Jewellers India said in a regulatory filing on Wednesday. 

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

Total revenues from the Middle East operations during the second quarter of FY23 stood at Rs 601 crore, as against Rs 360 crore in the same period last year. 

"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," said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India. 

"We are looking forward to a strong end to the quarter," he added.

The Kerala-headquartered jewellery retailer went on with its retail expansion plans in the July-September quarter, and opened five new showrooms in the non-South markets. The company also launched the first physical experience center of its e-commerce platform -- Candere. 

As of September 30, 2022, Kerala-headquartered Kalyan Jewellers' has 163 operational stores across India and the Middle East.