Earnings | Kalyan Jewellers India Limited (NSE:KALYANKJIL): Q3FY23 Results Out; Total Income rise 13% YoY

Kalyan Jewellers India Limited (NSE:KALYANKJIL) is a leading jewellery retail chain in India, founded in 1993. The company operates over 150 showrooms across India, the Middle East, and Southeast Asia, offering a wide range of gold, diamond, and other precious stone jewellery. Kalyan Jewellers is known for its exquisite designs and high-quality craftsmanship, with a focus on customer satisfaction. The company has received several awards for its contribution to the Indian jewellery industry, including the Best Jewellery Brand award by the Indian Retail Awards. Kalyan Jewellers has a strong online presence, allowing customers to shop for their favourite jewellery from the comfort of their homes.

Kalyan Jewellers India Limited has announced its Q3FY23 results. The company reported consolidated revenue of Rs 3,884 crore, an increase of 13% compared to the same quarter of the previous year. The company’s standalone revenue for Q3FY23 was Rs 3,219 crore, a growth of 12% YoY. The company’s EBITDA for Q3FY23 was Rs 327 crore compared to Rs 299 crore in the same quarter of the previous year. The company’s standalone PAT for Q3FY23 was Rs 133 crore compared to a PAT of Rs 118 crore in the corresponding quarter of the previous year. The Middle East region contributed approximately 16.5% to the overall consolidated revenue of the company. The Middle East operations recorded EBITDA of Rs 52 crore for the quarter compared to Rs 46 crore in the same quarter of the previous year. Retail expansion of the brand continued in the recently concluded quarter, with the launch of 6 new showrooms.Kalyan Jewellers India Limited has announced its Q3FY23 results.

The company reported consolidated revenue of Rs 3,884 crore, an increase of 13% compared to the same quarter of the previous year. The company’s standalone revenue for Q3FY23 was Rs 3,219 crore, a growth of 12% YoY. The company’s EBITDA for Q3FY23 was Rs 327 crore compared to Rs 299 crore in the same quarter of the previous year. The company’s standalone PAT for Q3FY23 was Rs 133 crore compared to a PAT of Rs 118 crore in the corresponding quarter of the previous year. The Middle East region contributed approximately 16.5% to the overall consolidated revenue of the company. The Middle East operations recorded EBITDA of Rs 52 crore for the quarter compared to Rs 46 crore in the same quarter of the previous year. Retail expansion of the brand continued in the recently concluded quarter, with the launch of 6 new showrooms.

Mr. Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We are pleased with the performance during the recently concluded quarter and are excited with the way the current quarter has started. We are seeing robust momentum in revenue and footfalls across all markets largely driven by the ongoing wedding season demand despite a continued spike in the gold price. During the recently concluded quarter, we announced our plans to open 52 showrooms during the calendar year 2023. As part of this strategy, we have invested a significant amount of time and effort over the last 3-4 months in building our internal resources. We have hired approximately 900 personnel largely for the [20 ] showrooms we plan to launch before Akshaya Tritiya – highest employee addition in a quarter in the history of the company so far”.