Kalyan Jewellers India Q2 Results 2024:Kalyan Jewellers India announced its Q2 results for 2024 on November 13, reporting a profit of ₹130.61 crore, reflecting a decline of 3.43% year-on-year. Despite this drop in profit, the company saw a significant revenue increase of 37.4% YoY, reaching ₹6065.48 crore.
In comparison to the previous quarter, Kalyan Jewellers reported a 9.57% growth in revenue, although profit took a more substantial hit, decreasing by 26.53% quarter-on-quarter. This performance highlights the volatility the company is currently experiencing in its profitability.
The company’s selling, general, and administrative expenses saw a slight decrease of 1.52% on a quarter-over-quarter basis, but increased by 13.97% when compared to the same quarter last year, indicating rising operational costs.
Operating income also faced challenges, down by 19.39% from the previous quarter and decreased by 1.8% year-over-year. The earnings per share (EPS) for Q2 stood at ₹1.27, a decrease of 3.05% compared to the same period last year.
In terms of market performance, Kalyan Jewellers India has delivered a -4.22% return over the last week, while the stock has shown remarkable gains of 63.86% over the last six months and an impressive 89.34% year-to-date return.
As of November 14, 2024, Kalyan Jewellers has a market capitalization of ₹69,152.59 crore, with a 52-week high and low of ₹786.25 and ₹304.1, respectively. Analysts remain optimistic, with a consensus recommendation to Strong Buy from 4 analysts while the other 4 have given a Buy rating.
The company continues to navigate a challenging economic landscape but remains well-positioned for future growth, as indicated by its robust revenue performance despite the dip in profit margins.
Kalyan Jewellers India Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 6065.48 | 5535.48 | +9.57% | 4414.54 | +37.4% |
| Selling/ General/ Admin Expenses Total | 169.81 | 172.43 | -1.52% | 148.99 | +13.97% |
| Depreciation/ Amortization | 84.97 | 75.47 | +12.59% | 66.94 | +26.93% |
| Total Operating Expense | 5823.21 | 5234.92 | +11.24% | 4167.82 | +39.72% |
| Operating Income | 242.27 | 300.56 | -19.39% | 246.72 | -1.8% |
| Net Income Before Taxes | 177.95 | 237.49 | -25.07% | 178.14 | -0.11% |
| Net Income | 130.61 | 177.77 | -26.53% | 135.25 | -3.43% |
| Diluted Normalized EPS | 1.27 | 1.72 | -26.16% | 1.31 | -3.05% |
Disclaimer: This is an AI-generated live blog and has not been edited by LiveMint staff.
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