Thrissur: Kalyan Jewellers India Limited’s consolidated revenue grew by 61 percent in Q2FY22 compared to Q2FY21. The revenue growth was broad-based across geographies with both India and international markets growing at the same pace.

Total revenue for the quarter was Rs 2889 crore, compared to total revenue of Rs 1798 crore for the same period during the last financial year. The company recorded Earnings Before Interest, and Tax, Depreciation & Amortization (EBITDA) of Rs 228 crore for the quarter compared to Rs 18 crore in the same quarter of the previous year. 

Consolidated PAT (Profit After Tax) for the quarter was Rs 69 crore as against a loss of Rs 136 crore in Q2FY21.

The revenue growth in India was approximately 61 percent during the recently concluded quarter as compared to the same period in the previous year. This was despite the fact that there
were lockdown related disruptions in showroom operations.  Total standalone revenue for the company in India, for the recently concluded quarter, was Rs 2,503 crore, as against Rs 1,556 crore for the same period in the previous year.

The Same Store Sales Growth (SSSG) in Non-South markets was 72 percent compared to the Southern markets, which had an SSSG of 44 percent. This differential was predominantly due to COVID-19 related closures of showrooms in Kerala during the recently concluded quarter.
The overall SSSG in India during the quarter was 52 percent.

The India operations recorded Earnings Before Interest, Tax, Depreciation & Amortization (EBITDA) of Rs 201 crore for the quarter compared to Rs 147 crore in the same quarter of the previous year. PAT for the quarter was Rs 68 crore as against Rs 29 crore in Q2FY21.

In the Middle East, the Kalyan group witnessed a significant improvement in customer sentiment during the quarter, resulting in revenue growth of 61 percent as compared to the same quarter during the prior year. Total revenue from the Middle East operations for the recently concluded quarter was Rs 360 crore as against Rs 224 crore for the same period in the previous year. Middle East region contributed 12 percent to the overall consolidated revenue of the company.

The e-commerce division Candere has continued its growth momentum. The revenue for the recently concluded quarter was Rs 32 crore versus Rs 22 crore in Q2-FY21, a growth of 47 percent. 

Presently, the Company's retail footprint is spread across 150 stores in 21 Indian states and 4 countries in the Middle East.