Kalyan Jewellers' Q2 profit jumps 64% to ₹427 crore as revenue crosses ₹10,000 crore
The jeweller's September quarter beat estimates, though a one-time land sale added about ₹73 crore to the profit.
- Q2 profit: ₹427 crore
- Revenue: ₹10,323 crore (+31%)
- Showrooms: 546
The numbers
Kalyan Jewellers earned a consolidated profit of about ₹427 crore in the July–September quarter, up roughly 64% from ₹260.5 crore a year ago. Revenue from operations rose about 31% to ₹10,323 crore. A pre-results preview had expected profit of around ₹340 crore.
Read the fine print
Part of the jump is one-off: Kalyan booked an exceptional gain of about ₹73.5 crore from selling a land parcel in Coimbatore. Before that item, profit before tax grew about 39%. Operating margin slipped slightly to 6.24%.
Where growth came from
Same-store sales in India grew about 20%, and online brand Candere's revenue rose about 64%. The Middle East grew more slowly, at about 12%. Kalyan opened 12 showrooms in India in the quarter, nine Candere stores and one in the UK, taking its total to 546. In the first half of the year, profit rose about 48% to ₹776 crore.
Why shoppers should care
Strong numbers from a big jeweller during a period of high gold prices show that Indians are still buying, especially around weddings and festivals. Kalyan's India business alone made about ₹9,007 crore in revenue and ₹424 crore in profit this quarter. The shares closed at ₹611 on 9 November, ahead of the results.
