The jewellery brand Kalyan Jewellers reported its financial results for the October-December 2023 quarter on January 31. The net profit for the quarter under review came at ₹181 crore, up 21.5% from ₹149 crore reported in the year-ago period.
The revenue for the quarter ended December 2023 rose 34.5% to ₹5,223 crore, up from ₹3,884 crore in the corresponding period in the previous year. However, the margins for the third quarter slipped to 7.1% from 8.4% a year ago.
The Earnings Before Interest, Taxes, Depreciation, and Amortisation came at ₹369.7 crore, up 13% from ₹326.8 crore in December 2022.
During the quarter under review, the company reported an increase in ad spending as a percent of sales to 2.3%, up from 2.1% in the year-ago period. Ad promotions grew 46.3% year on year.
Earlier, in its third-quarter business update, the Kerala-based company reported a revenue growth of over 33% year-on-year on a consolidated basis.
The company had said that its India operations saw revenue growth of 40% on-year during the third quarter as compared to the same period last year. This was led by robust operating momentum on the ground with healthy same-store-sales growth across all the key markets in the country.
During the quarter, the company added 22 net new ‘Kalyan’ showrooms in India and completed signing letter of intent for the 80 showrooms planned for financial year 2025.
First Published: Jan 31, 2024 12:48 PM IST
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