India’s leading jeweller Kalyan Jewellers Ltd reported 31 percent growth in consolidated revenue for the June quarter, as compared to the same period last year.
The jeweller opened 12 new showrooms across non-south markets during the recently concluded quarter and expect to launch 20 new showrooms before Diwali.
The company stated that the momentum in same-store revenue growth was widespread across various regions. However, non-south markets exhibited higher overall revenue growth, primarily due to the increased number of showrooms launched in that area over the past year.
“We witnessed revenue growth of 34 percent for our India operations during the recently concluded quarter as compared to Q1 FY 2023. Strong operating momentum has been consistent and sustained through the entire quarter, including during Akshaya Tritiya, underpinning the resilience of our category within the overall consumption basket, and demonstrating strong execution in the market by our operating team on the ground,” Kalyan said in its quarterly update.
“In the Middle East, we continued to witness robust momentum in footfalls and revenue driven by strong economic activity in the region. Revenue growth for the recently concluded quarter was 21 percent,” it added.
Kalyan Jewellers ended the quarter with a total of 194 showrooms across India and the Middle East.
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