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 Futures For June Delivery Slip , Geopolitical Uncertainty Keeps Bullion in Focus
International Bullion Markets Remained Volatile As Investors Monitored Developments In US-Iran Negotiations
Gold and silver prices traded lower on Thursday amid easing US Treasury yields and improving global market sentiment, even as geopolitical tensions surrounding the US-Iran conflict continued to influence investor outlook. On the Multi Commodity Exchange (MCX), gold futures for June delivery slipped Rs. 206 to Rs. 1,59,800 per 10 grams, while silver contracts for July delivery fell Rs. 1,350, or 0.5%, to Rs. 2,72,915 per kilogram.
International bullion markets remained volatile as investors monitored developments in US-Iran negotiations. US President Donald Trump indicated that talks with Iran were in their “final stages” but cautioned that failure to secure an agreement could trigger renewed military action, keeping risk sentiment fragile.
Analysts said precious metal prices continue to be supported by concerns over inflation and safe-haven demand. The partial closure of the Strait of Hormuz has sustained elevated crude oil prices, fuelling worries about supply disruptions and inflationary pressures.
A softer US dollar and a pullback in Treasury yields also offered some support to bullion after recent bond market volatility. However, expectations of a hawkish stance from the US Federal Reserve continue to weigh on sentiment, with policymakers signalling that further rate hikes may be considered if inflation remains above target.
Market participants are now closely watching progress in US-Iran talks, movements in crude oil prices, and upcoming manufacturing and services PMI data from major economies for further direction in bullion markets. Domestically, higher import duties on gold and silver are expected to keep demand subdued, with prices likely to remain range-bound in the near term.
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