Profit before tax (PBT) for the quarter stood at Rs 352.97 crore, up 48.61% as against Rs 237.50 crore posted in Q1 FY25.

Earnings before interest, tax, depreciation, and amortization (EBITDA) rose 37.89% year-on-year to Rs 508 crore in Q1 FY26. The EBITDA margin also improved, reaching 7% compared to 6.7% in the same period last year.

In Q1 FY26, Kalyan Jewellers’ standalone revenue from its India business reached Rs 6,142 crore, representing a robust growth of 31% compared to the same quarter last year. Profit after tax (PAT) also saw a strong increase of 55%, rising to Rs 256 crore.

The company’s international operations continued to perform well, with revenue climbing 32% year-on-year to Rs 1,070 crore in Q1 FY26. Within this, the Middle East market contributed Rs 1,026 crore in revenue, marking a 27% increase, while PAT grew by 18% to Rs 22 crore.

However, the lifestyle jewellery platform Candere faced challenges during the quarter, recording revenue of Rs 66 crore alongside a net loss of Rs 10 crore.

Ramesh Kalyanaraman, executive director of Kalyan Jewellers India, said, “we have started off the ongoing quarter well despite continuing volatility in gold prices and a higher base. We are upbeat about the upcoming festive season across the country and are gearing up for the launch of fresh collections and campaigns.”

Headquartered in Thrissur in the state of Kerala, Kalyan Jewellers is one of the largest jewellery retailers in India with a presence in the Middle East and the US.

Shares of Kalyan Jewellers dropped 10% to Rs 531.70 on the BSE.