Kalyan Jewellers India, one of the country’s largest jewellery retailers, announced its financial results for the June quarter on Monday, August 4, after market hours.
The company reported a net profit of ₹348 crore for the first quarter, marking a 32% year-on-year (YoY) increase from ₹264 crore in the corresponding quarter last year. However, on a sequential basis, profit declined from ₹409 crore reported in the March quarter.
Revenue from operations stood at ₹10,589 crore during the reporting quarter, rising 46% YoY from ₹7,268 crore. However, it was 3% lower on a quarter-on-quarter (QoQ) basis.
Revenue contribution from studded jewellery, which typically carries higher profit margins, declined during the quarter. In India, the share of studded jewellery fell to 29.7% from 30.3% a year ago, while in the Middle East, it declined to 16.3% from 18.3% in the corresponding period last year.
At the operating level, EBITDA stood at ₹632 crore, up 25% YoY from ₹505 crore in the year-ago quarter. On a sequential basis, however, EBITDA declined 14%, while the EBITDA margin contracted by 100 basis points on both a YoY and QoQ basis to 6%.
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