Kalyan FY22 standalone profit soars 55 pc to Rs214cr

BBN Bureau

Consolidated revenue at Rs10,818 cr is record high

KOCHI/May 11-2022: Kalyan Jewellers India Ltd recorded a standalone net profit (profit after tax -PAT) of Rs70.48 crore for the quarter ending March 31, 2022 (Q4) compared with Rs66.5 crore for the same period last year and Rs118.37 crore for the previous quarter ending December 31, 2021.

For the whole year, the profit was Rs214.17 crore compared with Rs138.23 crore for the previous full year (FY21).

On a consolidated basis, while the Q4 net profit was Rs72.04 crore, the whole year net profit was Rs224 crore compared with a loss of Rs6.07 crore the company reported for the previous year.

Revenue

Kalyan recorded a full year consolidated revenue of Rs10818 crore, the highest revenue in the history of the company so far despite disruptions to business due to COVID 2nd and 3rd waves during the year.

Consolidated revenue for Q4FY22 was Rs2857 crore as against Rs3057 crore in the corresponding quarter of the previous year.

The company recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs218 crores during Q4 FY22 compared to Rs228 crore in the same quarter of the previous year.

The standalone revenue earned during for the fourth quarter (Q4 FY22) by the company (India), was Rs2399 crore, as against Rs2615 crore in Q4 of the previous financial year (FY21).

Middle East operations

Total revenue from the Middle East operations during Q4 FY22 was Rs425 crore, at similar levels to the corresponding quarter of the previous year.

The Middle East region contributed around 15 per cent to the overall consolidated revenue of the company. Net profit for the quarter was at Rs4.3 crore compared with Rs7 crore in the corresponding quarter of the previous year.

A statement from the company said the e-commerce division Candere has continued its growth momentum. The revenue for the recently concluded quarter was Rs39 crore versus Rs22 crore in Q4-FY21, a growth of 78 per cent.

Ramesh Kalyanaraman, executive director, Kalyan Jewellers noted that Q4 started with a very high base and during the first half, the showroom operations faced disruptions due to Omicron driven wave.

The quarter also saw extreme volatility in gold prices driven by the geo-political situation in Ukraine and its related impact on demand.

“We ended the quarter with a marginal de-growth but as a team we are very satisfied with the outcome,” Kalyanaraman said.

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