Jewelry retailer Kalyan Jewellers mentioned on Friday that sturdy momentum in footfalls has led to a income development of over 15% in its India operations for the third quarter in comparison year-on-year.
In a regulatory submitting, the Kerala- primarily based Kalyan mentioned that constructive traction continued throughout this festive season on the again of additional easing of Covid-related restrictions throughout all markets in India and the Center East. It was additional supported by elevated ranges of vaccination and continued buoyancy in client sentiments, the corporate mentioned.
It added that consolidated income development for the just lately concluded quarter was roughly 17% and that it has witnessed sturdy momentum in footfalls and income over the previous 4 quarters.
The retailer mentioned that the gross margin improved sequentially for the recently-concluded quarter and on-line jewelry platform, Candere, recorded a income development of over 35% throughout the quarter, in comparison with the identical interval over the last 12 months.