Pre-tax profit stood at Rs 92.21 crore in Q2 September 2021 as against pre-tax loss of Rs 123.45 crore in Q2 September 2020.

During the quarter, total expenses rose 44.84% YoY to Rs 2,801.43 crore. Employee expense surged 15.19% YoY to Rs 87.46 crore. Raw material cost increased 64.90% YoY to Rs 2463.08 crore.

The company recorded Earnings Before Interest, and Tax, Depreciation & Amortization (EBITDA) of Rs 228 crore for the quarter compared to Rs 18 crore in the same quarter of the previous year.

The revenue growth in India was approximately 61% during the recently concluded quarter as compared to the same period in the previous year.

The Same Store Sales Growth (SSSG) in Non-South markets was 72% compared to the Southern markets, which had an SSSG of 44%. This differential was predominantly due to COVID-19 related closures of showrooms in Kerala during the recently concluded quarter. The overall SSSG in India during the quarter was 52%.

The India operations recorded EBITDA of Rs 201 crore for the quarter compared to Rs 147 crore in the same quarter of the previous year.

In the Middle East, the company reported a revenue growth of 61% compared with the same quarter during the prior year. Middle East region contributed about 12% to the overall consolidated revenue of the company.

The Middle East operations recorded EBITDA of Rs 26 crore for the quarter compared to a loss of Rs 132 crore in the same quarter of the previous year.

The company's retail footprint is spread across 150 stores in 21 Indian states and 4 countries in the Middle East, with a retail area exceeding 5,00,000 sq. ft.

The e-commerce division Candere has continued its growth momentum. The revenue for the recently concluded quarter was Rs 32 crore versus Rs 22 crore in Q2-FY21, a growth of 47%. The company recorded a PAT of Rs 54 lakhs compared to a PAT of Rs 1 crore for the same period of the last financial year.

Ramesh Kalyanaraman, executive director, Kalyan Jewellers India said, "The Company's performance during the recently concluded quarter has been very strong and we remain confident of the current quarter given the continued easing of COVID-19 related restrictions as well as the return of buoyancy in consumer sentiments across markets. We are witnessing a continuation in revenue momentum that had started around the same time last year and are encouraged by the trends that we are seeing in our operating performance."

Kerala-based Kalyan Jewellers is one the largest jewellery retailers in India with presence in the Middle East. The company has enjoyed a long-standing presence in the Indian market for nearly three decades and has set industry benchmarks in quality, transparency, pricing and innovation. Kalyan offers an array of traditional and contemporary jewellery designs in gold, diamonds and precious stones catering to the distinct needs of the customers. Kalyan Jewellers has 150 showrooms across India and the Middle East.