MUMBAI: Leading jewellery retailer Kalyan Jewellers reported a 3.37 per cent decline in consolidated profit after tax (PAT) for the September quarter, posting Rs130.32 crore, down from Rs134.87 crore in the corresponding period last year, according to a regulatory filing on Tuesday.
Despite the drop in PAT, Kalyan Jewellers saw robust growth in revenue from operations, which rose by 37.39 per cent to reach Rs6,065.48 crore in Q2 FY25. This compares to Rs4,414.53 crore in the same quarter of the previous year, reflecting strong demand and increased sales.
One-time loss
The company attributed part of its profit decline to a one-time loss of Rs69 crore, incurred due to a reduction in customs duty in India during the second quarter of the current fiscal year.
Commenting on the performance, Kalyan Jewellers India’s Executive Director, Ramesh Kalyanaraman, expressed optimism about the company’s trajectory.
“We are extremely excited with the way the current year has progressed thus far, despite volatile gold prices. The ongoing quarter is also witnessing robust footfalls. We are upbeat about the wedding season across the country and hope to end the calendar year on a very strong note,” he said.
