2024-11-14 12:29:12 :
Kalyan Jewelers India Q2 2024 Results: Kalyan Jewelers India announced its Q2 2024 results on November 13, reporting a profit of $1.3061 billion rupees, a year-on-year decrease of 3.43%. Despite the profit decline, the company’s revenue surged 37.4% year-on-year to $6065.48 Crores.
Kalyan Jewelers’ revenue grew by 9.57% compared to the previous quarter, but profits were hit harder, falling by 26.53% quarter-on-quarter. The performance highlights the volatility of the company’s current profitability.
The company’s selling expenses, general expenses and administrative expenses decreased slightly by 1.52% month-on-month, but increased by 13.97% compared with the same period last year, and operating costs increased.
Operating income also faced challenges, falling 19.39% month-on-month and 1.8% year-on-year. Second quarter earnings per share (EPS) was $1.27, a decrease of 3.05% compared with the same period last year.
In terms of market performance, Kalyan Jewelers India returned -4.22% last week, while the stock has gained a whopping 63.86% in the past six months and has returned a whopping 89.34% year-to-date.
As of November 14, 2024, Kalyan Jewelers had a market capitalization of $69,152.59 Crore, with 52-week high and low of Rs. $786.25 and $304.1 respectively. Analysts remain optimistic, with 4 analysts unanimously recommending a “Strong Buy” and 4 analysts giving a “Buy” rating.
The company continues to navigate challenging economic conditions but remains well positioned for future growth, as demonstrated by its strong revenue performance despite lower margins.
Kalyan Jewelers India Financials
| period | Q2 | Q1 | month-on-month growth | Q2 | year-on-year growth |
|---|---|---|---|---|---|
| total revenue | 6065.48 | 5535.48 | +9.57% | 4414.54 | +37.4% |
| Total Selling/General/Administrative Expenses | 169.81 | 172.43 | -1.52% | 148.99 | +13.97% |
| Depreciation/Amortization | 84.97 | 75.47 | +12.59% | 66.94 | +26.93% |
| total operating expenses | 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 tax | 177.95 | 237.49 | -25.07% | 178.14 | -0.11% |
| net income | 130.61 | 177.77 | -26.53% | 135.25 | -3.43% |
| Diluted normalized earnings per share | 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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