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Kalyan Jewellers reported that its consolidated revenue in the June quarter increased 105 per cent compared to the same period last financial year.
Despite the Covid impact, the company said Indian operation revenue was up 35 per cent compared to pre-Covid level.
The company has launched a franchised showroom in Aurangabad during the quarter. “We have developed a strategy and execution roadmap for our franchise operations, including working with a consultant to assess the market opportunity, develop a robust economic model and assess potential franchisee partners,” said the company.
In the Middle-East, the company said its revenue was up 65 per cent in the quarter driven largely by the overall recovery in the economic activity and the return of tourist traffic.
Unlike in India, showroom operations in the Middle East last June quarter remained uninterrupted even though demand was impacted to some extent due to travel restrictions to India, it said. Middle East contributed 17 per cent to consolidated revenue for the recently concluded quarter.
The online jewellery platform, Candere recorded a revenue growth of over 80 per cent during the quarter. It added four new showrooms including one in Middle East during the recently concluded quarter taking the overall count to 158.
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