New Delhi: Jewellery major Kalyan Jewellers saw its consolidated revenue grow by about 34 per cent during Q4 FY2024 despite a sharp rise in gold prices during the second half of the quarter, the company said in a quarterly update on BSE.
For the full year FY2024, the jewellery retailer saw its revenue grow by 31 per cent on a consolidated basis as compared to the prior year.
Commenting specifically on the India market, the company said that the India business revenue grew by 38 per cent during the quarter, led by robust operating momentum on the ground with healthy same-store-sales growth.
For its digital-first brand Candere, the company witnessed a revenue growth of 12 per cent during the March quarter.
“We continue to witness encouraging trends in its already opened physical showrooms. For the full year FY2024, Candere recorded revenue de-growth of approximately 17% as compared to the prior year,” the filing read.
In 2024, Kalyan launched 71 showrooms, taking the total number of showrooms to 253 across India and the Middle East. For FY2025, the company plans to launch a minimum of 130 showrooms in India (80 Kalyan and 50 Candere) and 6 showrooms across Middle East and USA.
