Kalyan Jewellers India Ltd. reported an over 26% rise in income in the first quarter of fiscal 2025, in line with estimates, aided by strong same-store sales growth.
The Thrissur-headquartered jeweller's revenue soared to Rs 5,535 crore in the April-June quarter, as compared to Rs 4,376 crore in the same period last year, according to an exchange filing on Thursday. Analysts' estimates compiled by Bloomberg projected it at Rs 5,558.13 crore.
The growth comes during a period when domestic gold prices scaled new highs on geopolitical factors, central bank buying and election volatility.
Kalyan Jewellers Q1 FY25 Results (Consolidated, YoY)
Revenue up 26.5% to Rs 5,535 crore versus Rs 4,376 crore (Bloomberg estimate: Rs 5,558.13 crore).
Ebitda up 16% to Rs 376 crore versus Rs 323 crore (Bloomberg estimate: Rs 376.57 crore).
Ebitda margin at 6.8% versus 7.4% (Bloomberg estimate: 6.8%).
Net profit up 24% to Rs 178 crore versus Rs 144 crore (Bloomberg estimate: Rs 185.77 crore).
The company added 13 new showrooms during the quarter. It plans to launch 80 franchise-owned, company-operated store showrooms in India this fiscal, according to an investor presentation.
Same-store sales growth in its core south India market was 13% year-on-year, while non-south sales grew 11%.
Shares of Kalyan Jewellers closed 2.55% lower at Rs 565.05 apiece, ahead of the announcement, as compared to a 0.15% advance in the benchmark BSE Sensex.
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