Kalyan Jewellers Ltd. saw a decline in profit in the July-September quarter of fiscal 2025 and missed estimates.
The consolidated net profit fell by 3.7% to Rs 130 crore in the second quarter, down from Rs 135 crore in the year-ago period. Analysts' estimates compiled by Bloomberg projected Rs 198 crore.
The company said the bottomline was hit with a one-time loss of Rs 69 crore due to reduction in customs duty in India during the quarter under review.
Kalyan Jewellers reported a 37% increase in revenue from operations to Rs 6,065.5 crore, as compared to Rs 4,414.5 crore in the year-ago period. The topline also surpassed the Bloomberg estimate of Rs 5,970 crore.
On the operating side, earnings before interest, taxes, depreciation and amortisation increased by 4%, reaching Rs 327 crore, compared to Rs 314 crore in the same quarter. However, it was below than the expected Rs 408 crore.
Margin contracted to 5.4% from 7.1% last year, also missing the Bloomberg estimate of 6.8%.
The jeweller's income from Middle East in the second quarter stood at Rs 800 crore, while net profit was Rs 14 crore.
The e-commerce division, Candere, reported a revenue of Rs 41 crore and net loss Rs 3.8 crore.
Kalyan Jeweller's same store sales growth was in excess of 20% for the Diwali minus 30 days period when compared to the base year, said Executive Director Ramesh Kalyanaraman. "We are upbeat about the ongoing wedding season across the country and hope to end the calendar year on a very strong note."
The Kerala-based jeweller added 15 new showrooms in the September quarter, taking overall count to 303 showrooms across India and the Middle East.
Kalyan Jewellers share price closed 4.9% lower at Rs 670 apiece, compared to 1.25% decline in the benchmark BSE Sensex. The earnings were announced during market hours.
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