Kalyan Jewellers India reported a 63.9% year-on-year jump in consolidated net profit to Rs 427 crore for the September quarter, aided in part by a one-time gain of Rs 73.5 crore.
The jewellery retailer had posted a net profit of Rs 261 crore in the corresponding quarter last year.
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Revenue from operations rose 31.4% to Rs 10,323 crore during the quarter, compared with Rs 7,856 crore a year earlier, reflecting growth in the company's business during the reporting period.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 29.7% year-on-year to Rs 644 crore, against Rs 497 crore in the year-ago period.
However, the company's operating margin remained largely flat, easing to 6.2% in the September quarter from 6.3% a year earlier, indicating that EBITDA growth trailed the expansion in revenue.
The Rs 73.5 crore one-time gain contributed to the reported bottom-line performance, accounting for a portion of the sharp increase in net profit.
The company's operating performance, meanwhile, was reflected in the growth in revenue and EBITDA during the quarter.
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Kalyan Jewellers, one of India's leading organised jewellery retailers, operates across domestic and international markets through its Kalyan and Candere brands.
The September-quarter performance comes amid continued expansion in India's organised jewellery retail market, where established players are seeking to strengthen their presence through store additions and a wider retail footprint.
Investors generally distinguish between recurring earnings and one-off gains. The underlying profit performance is still encouraging, but the 64% growth may overstate the improvement in the company's regular earnings.
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