Akshata Sharma
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Tata-owned omnichannel jewellery startup CaratLane - A Tanishq Partnership reported a total income of INR 754 Cr in the first quarter (Q1) of the financial year 2024-25 (FY25), up nearly 18% from INR 639 Cr in the year-ago period
The total income, however, excluded "bullion and digi-gold sales" worth INR 139 Cr and INR 4 Cr during the period under review and Q1 FY24, respectively, as per parent Titan.
In what was its first quarter as a wholly-owned subsidiary of Titan Company, CaratLane saw its earnings before interest and tax (EBIT) jump 8.5% year-on-year (YoY) to INR 38 Cr in the quarter ended June 2024. The omnichannel jewellery brand had reported an EBIT of INR 35 Cr in Q1 FY24.
Meanwhile, its EBIT margin also improved 44 bps year-on-year (YoY) to 5.5% in the quarter under review.
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