Consolidated PAT growth would be 44% adjusting for the loss due to reduction in customs duty (announced during Union Budget in July 2024), stated the firm.

Revenue from operations increased 39.51% YoY to Rs 7,287 crore in the quarter ended 31 December 2024.

Profit before tax (PBT) stood at Rs 293.56 crore in the December 2024 quarter, up 23.06% YoY.

EBITDA stood at Rs 438.80 crore in the third quarter of FY25, registering a growth of 18.65% as compared with Rs 369.80 crore posted in the corresponding quarter last year. EBITDA margin stood at 6% in Q3 FY25 as against 7.1% in Q3 FY24.

The India operations reported a PAT of Rs 218 crore for the quarter, compared to a PAT of Rs 168 crore for the same period last year. Adjusting for the customs duty loss, the PAT growth would be 54%.

The total revenue from Middle East operations in Q3 FY25 was Rs 840 crore, compared to Rs 683 crore in Q3 FY24, reflecting a growth of over 23%.

The e-commerce division, Candere, generated revenue of Rs 55 crore in Q3 FY25 compared to Rs 29 crore in Q3 FY24. However, the company incurred a loss of Rs 6.9 crore in Q3 FY25, compared to a loss of Rs 1.6 crore in Q3 FY24.

Ramesh Kalyanaraman, executive director, Kalyan Jewellers India, stated, “We are extremely excited about the progress made this year. Despite the volatility in gold prices, the current quarter has started off strong. We are optimistic about the ongoing wedding season and expect to close the financial year on a high note. We are also on track to launch 30 Kalyan showrooms and 15 Candere showrooms across India this quarter.”

Headquartered in Kerala, Kalyan Jewellers is one of the largest jewelry retailers in India with a presence in the Middle East.