Kalyan Jewellers India Ltd reported a 33 percent rise in net profit to Rs 143 crore ($17.3 million) for the quarter ended June 30, as against Rs 108 crore in the year-ago period.
The company’s revenue for the quarter rose by 31 percent to Rs 4,376 crore, as against Rs 3,333 crore in the corresponding quarter of the previous fiscal year.
The Middle East region contributed 16 percent to the overall revenue of the company with Rs 700 crore and net profit of Rs 17 crore.
The e-commerce division Candere recorded a revenue of Rs 34 crore for the quarter with a loss of Rs 2 crore.
Commenting on the results, Ramesh Kalyanaraman, executive director of Kalyan Jewellers in a statement said, “We have had a very good start to the financial year. The recently concluded quarter has been yet another positive one for Kalyan Jewellers, having witnessed continued robust momentum in both footfalls and revenue across all our markets in India and Middle East over the past several quarters.”
“We are upbeat about the upcoming new showroom launches and are gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country. The month of August will witness the launch of our 200th showroom in Jammu – a milestone in our showroom expansion journey,” he added.
Kalyan Jewellers is one of the leading jewellery retailers from the country with 197 showrooms across India and the Middle East.
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