Kalyan Jewellers Q3 net profit jumps 16 percent to Rs 134 crore
Kalyan Jewellers reported a 16 percent jump in its consolidated net profit at Rs 134 crore ($18 million) for the quarter ended December 2021, as against a net profit of Rs 115 crore it reported in the year-ago period.
The company’s revenue for the quarter grew by 17 percent to Rs 3,435 crore, compared to Rs 2,936 crore in the corresponding period of the previous fiscal year.
During the October-December period, the e-commerce division of the company, Candere, witnessed a 40 percent revenue growth at Rs 47 crore as compared to Rs 34 crore in the third quarter of last fiscal year.
Commenting on the Q3 results, Ramesh Kalyanaraman, executive director at Kalyan Jewellers India in a statement said, “The overall third quarter performance of the company has been very satisfying, with strong momentum in revenue and footfalls across geographies.
"At the start of this quarter, we have witnessed Covid-induced weekend lockdowns leading to showroom closures, in some regions. However, due to its resilient nature, Kalyan Jewellers is expecting demand to bounce back in the subsequent quarters, like it was witnessed in the previous year,” he added.
Kalyan Jewellers is one of the world’s largest jewellery retailer and currently has a retail footprint of 151 stores in 21 Indian states and four countries in the Middle East.
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