Kalyan Jewellers shares jump 6% Q3 profit rises 21% YoY; here is what management said

The stock of the company has grabbed headlines of late as the share price has tumbled 41% in a month, per BSE data.

On Thursday, the company posted a 21.23% rise in consolidated net profit to ₹218.68 crore for the third quarter of the 2024-25 fiscal on robust sales.

The company had reported a net profit of ₹180.37 crore in the year-ago.

Total income increased by 40% to ₹7,318.19 crore during the December quarter of the 2024-25 fiscal, from ₹5,243.20 crore logged in the year-ago period.

Expenses remained higher at ₹7,024.63 crore from ₹5,004.65 crore registered in the said period.

Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said," We are extremely excited with the way the current year has progressed. The current quarter has started off well despite the volatility in gold prices. We are upbeat about the ongoing wedding season and expect to end the financial year on a strong note."

The company is on track for the launch of 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter, Kalyanaraman added.

Early in January, the company, in its business update, said that its India operations saw a 41% revenue growth during Q3 of the fiscal 2024-25 compared to Q3 of the previous year, with 24% same-store-sales growth, the company said in its latest quarterly update.

The revenue from Middle East operations was up 22%, contributing 11% to consolidated revenue.

The company said 24 Kalyan showrooms were opened in India and the first company-owned showroom in the US during the third quarter, while its digital platform Candere recorded an 89% revenue growth during the period.

The company also opened 23 Candere showrooms in Q3 of the 2024-25 fiscal.

During Q4, the company plans to launch 30 Kalyan showrooms and 15 Candere showrooms in India. Kalyan Jewellers aims to launch over 130 new showrooms in FY25.

In the next fiscal year, the company has drawn up plans to launch 170 new showrooms across Kalyan and Candere formats in India and abroad.

As of December 31, 2024, the company operated 349 showrooms across its brands.