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
MCX Gold, Silver Edge Higher, Comex Gold Moves To $23.30 To Reach $4,113.80/oz
The Uptick Reflects Cautious Optimism Among Global Traders Following Diplomatic Signals That Washington and Tehran May Be Nearing A Resolution Regarding Key Maritime Passages
Gold and silver prices pushed higher Tuesday as commodity investors calibrated market expectations around U.S.-Iran diplomatic discussions and the prospect of reopening the strategic Strait of Hormuz.
On the Comex division of the New York Mercantile Exchange, gold futures rose $23.30, or 0.6%, to trade near $4,113.80 per ounce. Silver futures picked up $1.03 to settle near $58.88 per ounce.
The momentum spilled into Asian markets. On India’s Multi Commodity Exchange (MCX), benchmark October gold contracts climbed Rs 644 from the previous close to open at Rs 1,43,559 per 10 grams, eventually rising to Rs 1,43,607 per 10 grams during morning trade. September silver contracts on the exchange gained momentum as well, advancing Rs 2,404 to reach Rs 2,19,150 per kilogram.
In global trading on the Comex, gold rose $23.30 to reach $4,113.80 per ounce, while silver advanced $1.03 to $58.88 per ounce. Domestically on India’s MCX exchange, October gold contracts gained Rs 692 to trade at Rs 1,43,607 per 10 grams, while September silver contracts climbed Rs 2,404 to Rs 2,19,150 per kilogram.
The uptick reflects cautious optimism among global traders following diplomatic signals that Washington and Tehran may be nearing a resolution regarding key maritime passages. A potential reopening of the Strait of Hormuz—a crucial transit hub for global commodity transport—has prompted shifts in energy and precious metal risk premiums across international markets.
Despite Tuesday’s modest rebound, both metals continue to trade significantly below their high-water marks for the year. Comex gold previously touched a year-to-date peak of $5,586.20 per ounce, while silver reached $121.79 per ounce during earlier market surges.
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