Kalyan Jewellers Q4 Profit Surges 97% to Rs 137 cr

Mumbai, May 10 (PTI) Kalyan Jewellers on Friday reported a 97 per cent growth in consolidated profit after tax (PAT) to Rs 137.49 crore during the March quarter.

The jewellery retailer's PAT stood at Rs 69.79 crore in the year-ago period, Kalyan Jewellers said in a regulatory filing.

Consolidated revenue from operations of the company grew 34 per cent during the quarter under review at Rs 4,534.93 crore as against Rs 3,381.80 crore in the corresponding quarter of the previous year.

The board of directors of the company has recommended a final dividend of Rs 1.2 per equity share for the financial year ended March 31, 2024, subject to the approval of shareholders.

This represents a payout in excess of Rs 120 crore, more than 20 per cent of the net profit generated during FY24, the company added.

"We completed an excellent financial year and have started the new year on a strong note despite continuing volatility in gold prices. We are witnessing encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter and Akshaya Tritiya," Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.

Shares of the company on Friday closed at 410.85, up 3.37 per cent on the BSE.