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Kalyan Jewellers shares slide after June-quarter earnings miss
The company posted a 32% year-on-year rise in net profit to ₹348 crore, but profit fell sequentially and EBITDA margins contracted to 6%.
Kalyan Jewellers shares extended their decline on August 5 after the jeweller reported June quarter results that fell short of Street expectations, with the stock down another 5% to an intraday low of ₹562.70. The sell-off followed the company’s after-market-hours release on Tuesday, and the shares are now down 11.2% over the last four trading sessions, according to LiveMint Markets.
LiveMint Markets reported that net profit rose 32% year-on-year to ₹348 crore, up from ₹264 crore a year earlier. On a quarter-on-quarter basis, however, profit declined to ₹348 crore from ₹409 crore in the March quarter.
Revenue from operations increased 46% year-on-year to ₹10,589 crore, though it was 3% lower versus the March quarter. EBITDA rose 25% year-on-year to ₹632 crore, but EBITDA fell 14% sequentially, and EBITDA margin contracted by 100 basis points to 6%.
LiveMint Markets said the gross margin pressure in India was linked to a higher proportion of exchanged gold, promotional offers tied to the exchange campaign, and a high base created by a one-off gain from platinum and silver sales in the prior-year quarter. The company added 12 net Kalyan showrooms and five Candere stores during the quarter, bringing its India store count to 483, and it plans to open its first regional store in Chennai in August 2026.
Latest closeGold $4,133.60 ▲2.5%|Silver $59.77 ▲3.7%|Platinum $1,752.00 ▲8.3%