Kalyan Jewellers Reports 34% Rise in Q4 Revenue – News18

Kalyan Jewellers on Friday reported 34 per cent enhance in consolidated income for the quarter ended March and a 31 per cent progress in the whole 2023-24 fiscal pushed by higher demand regardless of rise in gold costs. The firm didn’t present the precise income figures reported for the fourth quarter and whole FY24.

Kochi-based Kalyan Jewellers, which has 253 showrooms throughout India and the Middle East, had posted a income of practically Rs 3,400 crore in the course of the fourth quarter of the final fiscal, and Rs 14,109.33 crore income for the whole 2022-23.

“The recently concluded quarter has been a very encouraging one, having witnessed continued robust momentum in both footfalls and revenue across all our markets in India and the Middle East despite a sharp rise in gold price during the second half of the quarter,” the corporate stated in a regulatory submitting.

Kalyan Jewellers stated it noticed a income progress of roughly 38 per cent for India operations throughout fourth quarter of FY24 as in comparison with the 12 months-in the past interval, led by strong working momentum on the bottom with wholesome similar-retailer-gross sales progress.

For the total FY24 fiscal 12 months, India enterprise recorded a income progress of roughly 36 per cent from over the earlier 12 months, it added.

Stating that it’s upbeat in regards to the ongoing quarter, Kalyan Jewellers stated it’s “witnessing encouraging trends in the advance collections for both Akshaya Tritiya as well as for wedding purchases for the festive/wedding season.” The firm plans to launch a minimal of 130 showrooms in India and 6 showrooms throughout the Middle East and the US in FY25.

During FY24, the corporate opened 71 showrooms, taking the full variety of showrooms to 253 throughout India and the Middle East.

(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)