BBN Bureau
THRISSUR/August 04-2022: Kalyan Jewellers recorded a consolidated profit-after-tax (PAT) or net profit of Rs108 crore for the first quarter (Q1) of the current financial year (FY23) compared with a loss of Rs51 crore for the same period of the previous year. The consolidated revenue for the period was Rs3,333 crore, a growth of 104 per cent compared with Rs1,637 crore in the corresponding quarter of the previous year. The company has reported Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) at Rs264 crore, a growth of 283 per cent compared with Rs69 crore for the same period in the earlier year.
Standalone numbers
The standalone net profit for the company’s Indian operations for the said quarter was Rs95 crore, as compared with a loss of Rs43 crore in the corresponding quarter of the previous year.
The standalone revenue for the company (India) for the period under discussion was at Rs2,719 crore, a growth of 113 per cent as compared with Rs1,274 crore in Q1 of the previous year.
EBITDA in India for the said quarter was Rs218 crore, a growth of 336 per cent compared with Rs50 crore in the same quarter of the previous year.
The e-commerce division, Candere, recorded a revenue of Rs44 crores for the quarter versus Rs24 crores in the corresponding quarter of the previous year.
The quarter recorded a loss of Rs1.2 crore for the division as against a profit of Rs31 lakhs for the corresponding quarter of the previous year.
Middle East
The company earned a profit after tax (PAT) of Rs14 crore for the period under discussion from the Middle East operations compared with Rs14 crore for the same period in the previous year.
In the Middle East, total revenue from operations during Q1FY23 was at Rs574 crore as against Rs340 crore in Q1 of the previous year. The Middle East region contributed approximately 17 per cent to the overall consolidated revenue of the company.
The Middle East operations recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs47 crore for the quarter, a growth of 161 per cent compared with Rs18 crore in the same quarter of the previous year.
Kalyan had previously announced the appointment of Vinod Rai as the chairman and independent non-executive director on the board of the company, which was subject to receiving regulatory and shareholders’ approvals.
