Kalyan Jewellers has achieved a remarkable 27% year-on-year increase in consolidated revenue for the first quarter of the financial year 2024-25, driven by robust performances in both the Indian and Middle Eastern markets.
During the first quarter of the 2023-24 fiscal year, the company reported a consolidated net revenue of ₹4,376 crores. The Indian operations saw a 29% revenue growth, alongside a 12% same-store-sales increase. The revenue from Middle East operations also rose by 16%, contributing 15% of the consolidated revenue.
The rapid expansion included the opening of 13 new FOCO showrooms and a 13% growth in digital platform Candere. The company plans to convert Candere into a wholly-owned subsidiary and aims to launch over 130 new showrooms in FY2025. The jeweller is optimistic about the upcoming festive and wedding season.
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