National News
Kalyan Jewellers India Ltd recorded PAT of Rs 219 crore in Q3 FY25
~ The first-of-its-kind store aims to redefine Gold and Silver Shopping with Innovation, Luxury, and Unmatched Convenience ~
Kalyan Jewellers India Limited recorded consolidated revenue of Rs 7287 crore in Q3 FY25 as against Rs 5223 crore in the corresponding period of the previous year, a growth of 40%. Consolidated PAT for Q3 FY25 was Rs 219 crore as against a PAT of Rs 180 crore for the corresponding period in the previous year. Consolidated PAT growth would be 44% adjusting for the loss due to reduction in customs duty (announced during Union Budget in July 2024).
The standalone revenue for the company (India) in Q3 FY25, was Rs 6393 crore, as against Rs 4512 crore in Q3 of the previous financial year, a growth of 42%. The India operations recorded PAT of Rs 218 crore for the quarter compared to a PAT of Rs 168 crore for the corresponding period in the previous year. Adjusting for the customs duty loss the PAT growth would be 54%.
Total revenue from the Middle East operations during Q3 FY25 was Rs 840 crore as against Rs 683 crore in Q3 FY24, a growth of over 23%. The Middle East operations recorded PAT of Rs 15 crore for the quarter compared to a PAT of Rs 14 crore for the corresponding period in the previous year. The PBT grew by 23% over the corresponding quarter of the previous year. However, the PAT growth for Q3FY25 was impacted due to the introduction of new corporate tax in the UAE.
The e-commerce division, Candere, recorded a revenue of Rs 55 crore in Q3 FY25 versus Rs 29 crore in Q3 FY24. The company recorded a loss of Rs 6.9 crore in Q3 FY25 versus a loss of Rs 1.6 Cr during Q3 FY24.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We are extremely excited with the way the current year has progressed. The current quarter has started off well despite the volatility in gold prices. We are upbeat about the ongoing wedding season and expect to end the financial year on a strong note. We are on track for the launch of 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter.”
National News
Price Of The Gold In India’s Retail Market Continues To Fluctuate Within A Narrow Range
The Broad Consolidation In Domestic Bullion Comes As Precious Metals Face Structural Headwinds From International Markets
The price of the yellow metal in India’s retail market continued to fluctuate within a narrow range on Thursday, 25 June, with both 24-karat and 22-karat gold rates showing marginal declines across major cities. Silver prices also showed limited movement in the domestic bullion market.
Indian bullion markets experienced a quiet, range-bound trading session on Friday, as physical retail demand moved in a tight corridor and a local holiday thinned wholesale trading volumes.
Domestically, retail gold prices across major metropolitan hubs saw marginal declines following a volatile week. Spot prices for 24-karat gold hovered near Rs 1,41,320 per 10 grams in major consumption centers including Mumbai and Kolkata, while Delhi markets held a slight premium. Meanwhile, retail silver tracked muted international cues, stabilizing after sharp bouts of selling earlier in the month driven by a firmer U.S. dollar and hawkish global monetary policy signals.
Wholesale trading on the Multi Commodity Exchange (MCX) was partially restricted due to the Moharram holiday. The exchange suspended its morning session, with operations scheduled to resume exclusively for the evening session on Friday.
In the preceding session on Thursday, June 25, benchmark gold contracts for August delivery managed a technical bounce, settling 0.16% higher at Rs 143,550 per 10 grams as safe-haven interest selectively returned amid lingering geopolitical deliberations. MCX silver futures mirrored the modest upward correction, settling 0.11% higher at Rs 222,070 per kilogram.
The broad consolidation in domestic bullion comes as precious metals face structural headwinds from international markets. Investors have spent much of June scaling back aggressive bets on rapid monetary easing. A hawkish stance by the U.S. Federal Reserve, paired with the U.S. Dollar Index holding near one-year highs, has reduced the appetite for dollar-denominated assets globally.
Additionally, a sharp de-escalation in energy markets—spurred by progress in U.S.-Iran negotiations and a smoother flow of maritime transport through the Strait of Hormuz—has stripped gold of some of its near-term inflationary hedging appeal. Analysts note that while local wedding-season demand is keeping a floor under spot physical prices, the broader bias for precious metals remains vulnerable to further central bank tightening later this year.
-
BrandBuzz21 hours agoIndriya, Aditya Birla Jewellery, Sets A New Industry Standard With Diamonds Of The Highest Sparkle
-
National News22 hours agoMinistry Of Good Souls Unveils Its New Bridal Collection In Bespoke 925 Sterling Silver
-
BrandBuzz1 day agoHazoorilal Legacy Debuts ‘Facets’, An Avant-Garde High Jewellery Collection
-
National News1 day agoMCX Precious Metals Face Notable Selling Pressure
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.