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Kalyan Jewellers' Q3 Net Profit Doubles to INR 416 Crore

  //business-finance.news-articles.net/content/202 .. lers-q3-net-profit-doubles-to-inr-416-crore.html
  Published in Business and Finance on Sunday, February 15th 2026 at 14:14 GMT by moneycontrol.com
      Locales: Maharashtra, Gujarat, Tamil Nadu, Karnataka, INDIA

Mumbai, February 15th, 2026 - Kalyan Jewellers India today announced a remarkable third quarter (Q3) performance for fiscal year 2024-25, with net profit nearly doubling year-over-year to INR416 crore. While a slight dip in topline revenue was observed, the company's strong performance underscores its resilient business model and strategic execution in a dynamic market.

The reported net profit of INR416 crore represents a significant leap from the same period last year, primarily driven by substantial inventory gains - totaling INR517 crore - and a solid 17% increase in revenue from operations, excluding these gains. Total revenue for the quarter registered at INR3,519 crore, a 5% decrease quarter-over-quarter (QoQ). This QoQ decline is largely attributed to a recent softening in global gold prices and a relatively quieter festive season compared to previous years.

Decoding the Numbers: More Than Just Gold

The interplay between gold prices and revenue is crucial to understanding Kalyan Jewellers' performance. While a drop in gold prices negatively impacts topline revenue (as the value of sold inventory decreases), it simultaneously boosts inventory gains. Kalyan Jewellers adeptly capitalized on this dynamic, demonstrating effective inventory management and risk mitigation strategies. This ability to navigate price volatility sets them apart in the competitive jewellery market.

Analysts note that the 17% growth in revenue from operations excluding inventory gains is a more indicative measure of the company's underlying business strength. This signifies healthy organic growth driven by increased footfall, enhanced brand appeal, and successful marketing initiatives. The company's strategic focus on offering a diverse range of jewellery designs, catering to varying customer preferences and budgets, appears to be paying dividends.

Expansion on the Horizon: Fueling Future Growth

Kalyan Jewellers isn't resting on its laurels. The company has outlined an ambitious expansion plan, targeting the opening of approximately 13 new stores across India in fiscal year 2025. This continued investment in physical retail demonstrates a confidence in the enduring appeal of brick-and-mortar stores, even in the age of e-commerce. The expansion strategy isn't simply about increasing store count; it's about strategically targeting growth markets and enhancing accessibility for a wider consumer base.

Industry experts predict that tier-2 and tier-3 cities will be key drivers of growth for jewellery retailers in the coming years. Kalyan Jewellers' expansion plans seem to align with this trend, indicating a savvy understanding of the evolving Indian consumer landscape. Furthermore, the company is increasingly focusing on offering customized jewellery options and personalized shopping experiences, which are resonating well with modern consumers.

Navigating the Competitive Landscape

The Indian jewellery market is highly competitive, with established players like Titan Company (Tanishq) and regional brands vying for market share. Kalyan Jewellers has successfully carved a niche for itself through its focus on quality, design innovation, and customer service. The company's brand ambassador strategy, featuring prominent celebrities, has also played a significant role in building brand awareness and attracting customers.

However, challenges remain. Fluctuations in gold prices, economic uncertainties, and increasing competition will continue to test the company's resilience. Successfully navigating these challenges will require continued innovation, efficient cost management, and a relentless focus on customer satisfaction.

Looking Ahead: A Bright Future?

Kalyan Jewellers remains optimistic about its long-term growth prospects. The company's strong Q3 performance, coupled with its expansion plans and commitment to innovation, positions it well to capitalize on the growing demand for jewellery in India. Analysts suggest that the company's ability to consistently deliver strong financial results and maintain a healthy brand image will be crucial to sustaining its momentum in the years to come. The combination of strong operational performance and strategic growth initiatives suggests a positive trajectory for Kalyan Jewellers, even amidst potential macroeconomic headwinds.