Kalyan Jewellers Shines with 48.73% Profit Surge
Kalyan Jewellers reported a significant increase in profit, with a 48.73% rise in consolidated profit after tax for the quarter ending June 30. The revenue also grew by 31.48%, indicating strong sales performance despite fluctuating gold prices. The company is optimistic about the upcoming festive season.
- Country:
- India
Kalyan Jewellers has announced an impressive 48.73% growth in consolidated profit after tax for the quarter ending June 30, reaching Rs 264.08 crore. This marks a substantial increase from the Rs 177.55 crore recorded during the same period last year, according to a regulatory filing by the company.
The jewellery giant, headquartered in Thrissur, also reported a revenue boost of 31.48% during the quarter, increasing to Rs 7,268.47 crore from Rs 5,527.81 crore a year ago. This growth comes despite the challenges posed by fluctuating gold prices and a higher financial base.
Despite these obstacles, Kalyan Jewellers remains hopeful about the festive season, with plans to launch several new collections and marketing campaigns, according to Executive Director Ramesh Kalyanaraman. Shares of the company rose slightly, closing at Rs 590.75 on Thursday.
(With inputs from agencies.)
Google News