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
Tamannaah Fine Jewellery Expands Across 10 Cities Through Taj Khazana
The Tamannaah Bhatia-Founded Fine Jewellery Brand Partners With Taj’s Khazana To Bring Its Collections To 10 Indian Cities, Beginning With New Delhi and Expanding To Bengaluru, Chennai, Kolkata and Hyderabad.
Tamannaah Fine Jewellery, founded by actor and entrepreneur Tamannaah Bhatia, has partnered with Khazana, Taj’s luxury retail destination, marking the brand’s retail expansion across 10 Indian cities. The rollout began with Khazana at Taj Mahal, New Delhi.
The partnership will extend to markets including Bengaluru, Chennai, Kolkata and Hyderabad, among other cities. Khazana will serve as the exclusive retail outlet for Tamannaah Fine Jewellery collections under the collaboration. The brand, founded in 2024, follows a Beyond the Occasion positioning, with its collections focused on contemporary, versatile fine jewellery designed for everyday wear as well as special occasions.
Tamannaah Bhatia said the collaboration marked a step towards taking the brand to new cities and audiences through an alternative retail route. She added that the brand’s approach centres on creating jewellery that is refined and versatile for contemporary lifestyles.
Faisal Momen, Vice President, Khazana, said the partnership brings together a focus on Indian craftsmanship, design and quality. The collections will be presented to Taj guests through Khazana’s retail network.
The 10-city rollout gives Tamannaah Fine Jewellery a retail presence across multiple markets through the Taj Khazana network, with the New Delhi launch serving as the first location.
-
National News2 days agoSankesh Surana Studio Unveils Viśvaṃ Viṣṇuḥ: A Monumental Contemporary Sculpture Reimagining Sacred Art
-
National News2 days agoGold Prices Hold Steady In India, Limited Movement In Domestic Retail Gold Prices
-
DiamondBuzz3 hours agoLIMIRA Enters India’s Jewellery Market With An E-Commerce-Only Model Built Around Design, Transparency and Lab-Grown Diamonds
-
International News2 days agoFrom Google To Generative AI: Jewellery Industry Faces A New Digital Discovery Era
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.