Kalyan Jewellers reports revenue growth of 60% in Q4 FY'21 for its India operations

By Indiatimes3 days ago

AD

Kalyan Jewellers on Thursday said it has witnessed a robust increase in consumer demand and seen revenue growth of nearly 60 per cent in its India operations in the fourth quarter ended March 31, 2021.

In Q4 FY 2021, the company witnessed a robust increase in consumer demand resulting in a revenue growth of approximately 60 per cent for our India operations, as compared to the same quarter in the prior year, Kalyan Jewellers said in a quarterly update.

Revenue growth for the first two months of the quarter (January and February) was approximately 35 per cent, while growth in March was significantly higher, skewed by the loss of sales we experienced in the base due to the COVID-19 pandemic's impact on our retail operations in March 2020, it added.

The company said the vast majority of its growth in the recent quarter was same store sales driven, as only two stores were opened during the past one year period.

Kalyan Jewellers said it believes a significant driver of its recent revenue growth momentum in India has been a meaningful shift in consumer demand from the unorganised to the organised segment.

Continue read on indiatimes.com