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CaratLane posts Rs 1,117 Cr revenue in Q3 FY25, EBITDA tops Rs 130 Cr

Entrackr · 18d

Omnichannel jewellery brand CaratLane has recorded 27% year-on-year growth during the third quarter of the ongoing fiscal year. Moreover, its EBITDA crossed Rs 130 crore in the same period. CaratLane's total income (excluding bullion and Digi Gold sales) surged to Rs 1,117 crore in Q3 FY25, up from Rs 879 crore in Q3 FY24, reflecting 27% year-on-year growth. The figures were reported in Titan’s quarterly results sourced from the National Stock Exchange (NSE). According to the company's press release, CaratLane has added 19 new stores in India, bringing the total to 305 stores across 128 cities. During the quarter ending December 2024, CaratLane also opened its first international store in New Jersey, United States of America. With the 22% growth in brand searches, EBITDA for CaratLane stood at Rs 131 crore during Q3 FY25, with a margin of 11.7%. Notably, Titan's total jewelry business, including Tanishq and Mia grew by 26.6% to Rs 16,134 crore in Q3FY24, compared to 12,742 crore in Q3 FY24. Apart from CaratLane, Tanishq, and Mia have added 11 and 13 new stores respectively in the domestic market during the last quarter. Titan Company Limited initially acquired a 62% stake in CaratLane for Rs 357.24 crore in 2016. Over time, it increased its holding to 71.09%. The company later acquired an additional 27.18% for Rs 4,621 crore, bringing its total stake to 98.64%, and subsequently purchased the remaining shares for Rs 60 crore in February last year. During the fiscal year ended March 2024, CaratLane posted a 42% year-on-year increase to Rs 3,081 crore from Rs 2,169 crore in FY23. However, its profit slipped 3.7% to Rs 79 crore in the same period. CaratLane directly competes with Bluestone which filed DRHP to SEBI for Rs 1,000 crore IPO and reported Rs 1,266 crore in operating revenue for FY24 with a loss of Rs 142 crore. Fine jewellery brand Giva saw a 66% year-on-year revenue growth to Rs 274 crore in FY24. Meanwhile, Melorra is yet to post its annual results for the last fiscal.