Kalyan Jewellers’ shares rose 10% today, reaching an intraday record and exceeding its upper circuit limit of Rs 484.30 on the BSE, after the business announced a 44% YoY increase in earnings after tax, reaching Rs 219 crore, up from Rs 180 crore in the same time last year. The consolidated PAT rise is after compensating for the loss caused by a reduction in customs duties. Furthermore, Kalyan Jewellers reported consolidated sales of Rs 7,287 crore in Q3 FY25, up 40% from Rs 5,223 crore in the same time last year. The company’s India business reported a PAT of Rs 218 crore for the quarter, up from Rs 168 crore in the same time last year.
The Middle East business had a PAT of Rs 15 crore for the quarter, compared to Rs 14 crore for the same time last year. However, the implementation of a new corporation tax in the UAE had an influence on PAT growth in the third quarter of FY25. Candere’s e-commerce sector generated Rs 55 crore in the third quarter of FY25, up from Rs 29 crore in the third quarter of FY24. The firm lost Rs 6.9 crore in Q3 FY25, compared to a loss of Rs 1.6 crore in Q3 FY24.
“We are quite pleased with the way the current year has developed. Despite gold price volatility, the new quarter has started positively. We are optimistic about the current wedding season and plan to finish the fiscal year on a good note. “We are on track to open 30 Kalyan and 15 Candere showrooms in India during the current quarter,” said Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers.
