Kalyan Jewellers posts Q2 net profit of Rs 69 crore

By

Maverick Martins

Published
Nov 11, 2021

Jewellery retailer Kalyan Jewellers reported a consolidated net profit of Rs 69 crore ($9.3 million) for the second quarter ended September 2021, as against a net loss of Rs 136 crore in the year-ago period.
 

The company’s revenue for the quarter rose 61 percent to Rs 2,888 crore, as against Rs 1,798 it reported in the corresponding period of the previous fiscal year.
 
Commenting on the Q2 results, Ramesh Kalyanaraman, executive director at Kalyan Jewellers India, in a statement said: "The company's performance during the recently concluded quarter has been very strong and we remain confident of the current quarter given the continued easing of Covid-19 related restrictions as well as the return of buoyancy in consumer sentiments across markets.”

“We are witnessing a continuation in revenue momentum that had started around the same time last year and are encouraged by the trends that we are seeing in our operating performance,” he added.
 
Kerala-based Kalyan Jewellers is one the largest jewellery retailers with 150 showrooms across India and the Middle East.