Kalyan Jewellers revenue growth surges 27% in Q1 FY25, plans expansion

Kalyan Jewellers on Friday reported a 27 per cent year-on-year increase in consolidated revenue for the first quarter of the financial year 2024-25, driven by strong performance in both Indian and Middle Eastern markets.

The company had reported a consolidated net revenue of Rs 4,376 crore in the first quarter (April-June) of the 2023-24 fiscal year.

India operations saw a 29 per cent revenue growth during the first quarter of this fiscal, compared to the corresponding quarter of the previous fiscal year, with a 12 per cent same-store-sales growth, the company said in a regulatory filing.

The revenue from Middle East operations was up 16 per cent, contributing 15 per cent to the consolidated revenue.

The company said 13 new franchisee-owned-company-operated (FOCO) showrooms were opened during the April-June period this year in India, while the digital platform Candere recorded a 13 per cent revenue growth.

The company said it plans to convert its Candere business into a wholly-own