Kalyan Jewellers reported a 97 percent rise in consolidated net profit to Rs 137 crore ($16.5 million) during the March quarter, as against Rs 70 crore in the year-ago period.
The company’s revenue for the quarter rose by 34 percent to Rs 4,534 crore, as against Rs 3,381 crore in the corresponding quarter of the previous year.
For the financial year 2024, Kalyan Jewellers recorded a consolidated revenue of Rs 18,548 crore while its net profit for the year stood at Rs 596 crore.
The company’s digital-first platform, Candere, recorded a revenue of Rs 36 crore for Q4, as compared to Rs 32 crore in the corresponding quarter of the previous year.
Commenting on the results, Ramesh Kalyanaraman, executive director at Kalyan Jewellers in a statement said, “We completed an excellent financial year and have started the new year on a strong note despite continuing volatility in gold prices. We are witnessing encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter and Akshaya Tritiya.”
During the financial year 2024, Kalyan Jewellers launched 71 showrooms taking the total number of showrooms to 253 across India and the Middle East.
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