Kalyan Jewellers India Limited recorded a consolidated Profit After Tax (PAT) growth of 16 percent and a revenue growth of 17 percent relative to the same quarter of the previous year.
Total revenue for the third-quarter of financial-year 2022 (3Q FY22) was Rs3435 Crores, compared to a total revenue of Rs2936 Crores for the same period during the last financial year. The company recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs299 Crores during Q3 FY22 compared to Rs288 Crores in the same quarter of the previous year. Consolidated PAT for the quarter was Rs135 crores as against a PAT of Rs115 crores in Q3 FY21.
The revenue growth from the India business was approximately 15 percent during the recently concluded quarter, when compared to the same period in the last financial year. Total standalone revenue for the company (India), was Rs2880 Crores, as against Rs2497 Crores in Q3 of the last financial year. The India operations also recorded an EBITDA of Rs253 crores for the quarter, compared to Rs247 crores in the same quarter of the previous year.
In the Middle East, Kalyan Jewellers witnessed a significant improvement in customer sentiment during the quarter, resulting in a revenue growth of 24 percent when compared to the same quarter in the last financial year. Total revenue from the Middle East operations during Q3 FY22 was at Rs515 crores as against Rs417 crores for the same period in the previous year. For the first time since the onset of COVID-19, the majority of our showrooms in the region have recorded revenue higher than pre-COVID levels.
The Middle East region contributed approximately15 percent to the overall consolidated revenue of the company. The Middle East operations recorded an EBITDA of Rs46 crores for the quarter compared to Rs31 crores in the same quarter of the previous year. The e-commerce division Candere has continued its growth momentum. The revenue for the recently concluded quarter was Rs47 crore versus Rs34 crores in Q3-FY21, a growth of 40 percent.
Speaking about the outstanding figures, Executive Director, Kalyan Jewellers India Limited,Ramesh Kalyanaraman, said, “The overall Q-3 performance of the company has been very satisfying, with strong momentum in revenue and footfalls across geographies. At the start of this quarter (Q4), we have witnessed COVID-19 induced weekend lockdowns leading to showroom closures, in some regions. We are also seeing weddings and celebrations being postponed. However, due to its resilient nature, we are expecting demand to bounce back in the subsequent quarters, like we saw in the previous year. We are closely monitoring the on-ground COVID-19 situation, and are committed to ensuring the safety and well-being of our customers and staff.”
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