Kalyan Jewellers revenue rises 31% yoy in Q1FY24

Kalyan Jewellers has achieved consolidated revenue growth for the recently concluded quarter by ~31% as compared to the same period in the previous financial year, the company quoted in a regulatory filing on Friday.

The Company revenue growth of ~34% for its India operations during the recently concluded quarter as compared to Q1FY23. Gross margin at the showroom level has improved as compared to the same period in the previous financial year and has remained broadly in line with the prior quarter. 

In addition to this, Kalyan Jewellers added 12 new ‘Kalyan’ showrooms across non-south markets during the recently concluded quarter and expect to launch ~20 new showrooms across non-south markets before Diwali, the company said.

It further mentioned, “We expect to launch the first FOCO (Franchisee Owned Company Operated) showroom in the region during Q2 FY 2024.”

Source: Media Reports