Kalyan Jewellers posted a 27% per cent year-on-year increase in consolidated revenue for Q1 of FY25, mainly due to strong performance in the Indian and Middle Eastern markets.
The company had reported a consolidated net revenue of ₹4,376 crore in Q1 (April-June) for FY25.
India operations saw 29 per cent revenue growth during Q1 of the current fiscal year compared to the corresponding quarter of the previous fiscal year. The company said in a regulatory filing that same-store sales grew by 12 per cent.
Revenue from Middle East operations rose by 16 per cent, contributing 15 per cent of the total revenue.
According to PTI, the company said 13 new franchisee-owned-company-operated (FOCO) showrooms were opened in India from April to June this year. The digital platform Candere recorded a 13 per cent revenue growth.
After increasing its stake, the company said it plans to convert its Candere business into a wholly-owned subsidiary.
“The recently concluded quarter has been a very satisfying one, having witnessed robust operating performance across all our markets in India and the Middle East despite extreme volatility in gold prices and a strong base quarter,” Kalyan Jewellers said.
Kalyan Jewellers aims to launch over 130 new showrooms in FY25, including about 40 Kalyan showrooms in India, approximately 30 Candere showrooms and the first US showroom by Diwali.
The jewellery brand remains optimistic about the upcoming festival and wedding season, beginning with Onam celebrations.
The company operated 277 showrooms across its brands as of June 30.
Kalyan Jewellers was founded by T S Kalyanaraman, who opened the first jewellery showroom in 1993 in Thrissur, Kerala, with an initial capital of ₹75 lakh.
The company is also engaged in the textile business. Initially, the company’s presence was limited to South India; by 2012, it expanded to other parts of the country, and by 2013, it expanded to international markets.