Kalyan Jewellers India Ltd, one of India’s leading jewellery retail chains, reported a 118% increase in consolidated net profit for the March quarter at ₹410 crore, aided by strong growth in sales volume and sustained wedding demand.
Revenue from operations rose sharply to ₹10,275 crore from ₹6,182 crore in the corresponding quarter last year.
The board recommended a final dividend of ₹2.50 per share.
India, international business grow strongly
Standalone India business reported revenue of ₹8,994 crore and net profit of ₹366 crore, recording growth of 68% and 97% respectively.
International operations witnessed revenue growth of 43% to ₹1,157 crore, while net profit more than doubled to ₹14 crore.
Lifestyle jewellery platform Candere posted revenue of ₹131 crore and reported a profit of ₹3 crore during the quarter.
Wedding demand remains strong
Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said, “We ended the previous financial year on a very strong and have carried the momentum into the ongoing financial year. We witnessed strong growth in our Akshaya Tritiya sale this year and we continue to see encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter.”