Kalyan Jewellers Mumbai: Jewellery retailer Kalyan Jewellers India on Wednesday reported a marginal decline in consolidated net profit for the quarter ended on March 31 at Rs 72 crores largely on the back of lower revenues.
The Thrissur-headquartered company reported a PAT of Rs 74 crore in the corresponding quarter last year.
Its total revenues for the January-March quarter stood at Rs 2,857 crore as against Rs 3,057 crore in Q4 FY2021, a de-growth of 6.54 per cent, the company said in a regulatory filing.
"Q4 started with a very high base and also faced disruptions to showroom operations during the first half of the quarter due to Omicron driven wave. The quarter also saw extreme volatility in gold prices driven by the geo- political situation in Ukraine and its related impact on demand. We ended the quarter with a marginal de-growth but as a team we are very satisfied with the outcome," said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India.
For FY2022, the company's consolidated PAT stood at Rs 224 crores, lower that the Rs 275 crores of FY2021. Revenues, however, increased by nearly 26 per cent to Rs 10,818 crores from Rs 8,573 crores last year.
"Kalyan Jewellers India recorded a consolidated revenue of Rs 10,818 crore, the highest revenue in the history of the company so far despite disruptions to business due to Covid 2nd and 3rd waves during the year," the company said. Presently, the company's retail footprint is spread across 154 stores in 21 Indian states and four countries in the Middle East.
(With UNI Inputs)
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