Kalyan Jewellers' Strong Q3: Profits Surge Amid Wedding Season

Kalyan Jewellers' shares soared nearly 13% after a 21.23% rise in net profit for Q3 of the 2024-25 fiscal. Total income climbed by 40%, bolstered by strong sales. The company remains optimistic about the current wedding season and plans to open new showrooms across India.

Shares of Kalyan Jewellers saw a significant surge on Friday, climbing nearly 13% following the announcement of a 21.23% rise in consolidated net profit for the third quarter of the 2024-25 fiscal year.

The stock experienced an increase of 12.83% on the BSE, reaching Rs 496.80, and similarly rose by 12.75% on the NSE, hitting Rs 496.85. The company's net profit reached Rs 218.68 crore during the December quarter, a notable rise from Rs 180.37 crore a year ago, driven by strong sales.

Total income for the quarter increased by 40%, moving to Rs 7,318.19 crore, compared to Rs 5,243.20 crore in the previous year. Executive Director Ramesh Kalyanaraman expressed enthusiasm for the financial progress amidst volatile gold prices. With optimism fueled by the ongoing wedding season, Kalyan Jewellers plans to launch 30 new Kalyan showrooms and 15 Candere showrooms throughout India this quarter.

(With inputs from agencies.)