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Kalyan Jewellers India posted a 63.9% year-on-year increase in consolidated net profit to Rs 427 crore for the September quarter, supported partly by a one-time gain of Rs 73.5 crore.
The jewellery retailer had reported a net profit of Rs 261 crore in the corresponding quarter of the previous fiscal year.
Revenue from operations grew 31.4% to Rs 10,323 crore during the quarter, compared with Rs 7,856 crore in the year-ago period, reflecting continued business growth.
EBITDA rose 29.7% year-on-year to Rs 644 crore, against Rs 497 crore in the corresponding quarter last year.
Despite the growth in revenue and EBITDA, operating margin remained largely stable at 6.2% in the September quarter, compared with 6.3% a year earlier. This indicates that EBITDA growth was marginally lower than revenue growth.
The one-time gain of Rs 73.5 crore contributed to the increase in reported net profit, while revenue and EBITDA growth reflected the company's operating performance during the quarter.
Kalyan Jewellers operates across domestic and international markets through its Kalyan and Candere brands and is among India's leading organised jewellery retailers.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “The ongoing festive quarter has started off very well and we are very encouraged by the growth on the ground, especially during Navratri and Dhanteras. We are upbeat about the wedding season and look forward to ending the quarter on a strong note.”
The results reflect the ongoing growth of India's organised jewellery retail sector, with established players focusing on expanding their store networks and strengthening their market presence.
However, the impact of one-time gains remains an important consideration when assessing earnings quality. While the company's revenue and EBITDA growth indicate a positive operating performance, the 64% rise in net profit does not entirely represent growth in recurring earnings.
