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Kalyan Jewellers has reported 17 per cent rise in consolidated revenue during the December quarter ended 2021 on back of strong momentum in footfall over the past four quarters. The increase in revenue would have been much higher if not for minor disruptions to showroom operations in certain parts of Kerala and Tamil Nadu due to recent floods.However, the positive traction continued in the festive season on the back of further easing of Covid-related restrictions across India and West Asia , said the company in a statement on Friday. The momentum was supported by increased vaccination and continued buoyancy in consumer sentiments, it added.
The revenue growth in India was over 15 per cent and it was 22 per cent in West Asia in the quarter. The December quarter of the previous financial year was the first normalised quarter post the initial Covid-related market dislocation. Gross margin improved close to the pre-Covid levels due to store expansion and higher share of revenue from non-south markets. The Gold Savings Scheme enrolments was up compared both sequentially and previous year.
In West Asia , for the first time post the onset of Covid, majority of the showrooms have recorded revenue higher than pre-Covid levels. Online jewellery platform, Candere, recorded a revenue growth of over 35 per cent during the December quarter of 2021,
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