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 See Sharp Decline On Surging Crude Oil Prices, Hawkish Fed Reserve
MCX Gold Plunged By Rs 2,200 (Nearly 1.5%) To Trade Near Rs 1.54 Lakh, While MCX Silver Dropped Over Rs 2,400 (Around 1%) To Hit An Intraday Low Below Rs 2.33 Lakh Per Kilogram
Precious metals experienced a sharp retreat on August 31, 2026, driven by an increasingly hawkish Federal Reserve and surging crude oil prices. In domestic markets, MCX gold plunged by Rs 2,200 (nearly 1.5%) to trade near Rs 1.54 lakh, while MCX silver dropped over Rs 2,400 (around 1%) to hit an intraday low below Rs 2.33 lakh per kilogram. This domestic downturn mirrored steep sell-offs across global spot markets, where gold dropped more than 1% to hover around $4,400 per ounce and silver slipped below the $66 per ounce mark.
Key Drivers Behind the Sell-Off
- Hawkish Fed Signals: Federal Reserve Chair Kevin Warsh signaled persistent inflation concerns during the Jackson Hole summit, emphasizing that financial conditions remain insufficiently restrictive to reach the 2% inflation target.
- Rising Rate Hike Odds: Traders are now pricing in a 57% probability of a 25-basis-point rate hike in September, up from roughly 40% last week.
- Energy & Geopolitical Pressures: US strikes on Iranian rocket launchers near the Strait of Hormuz lifted crude prices, compounding pressure on non-yielding bullion.
Despite the sharp end-of-month pullback, gold remains positioned to close August with a gain of more than 10%, supported by broad-based currency debasement trades.
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