Jewellery retailer Kalyan Jewellers on Wednesday reported a 2.47 per cent decline in consolidated profit after tax (PAT) during the quarter ended March 31, at Rs 72.04 crore.
The company’s PAT stood at Rs 73.87 crore during the corresponding quarter of 2020-21, Kalyan Jewellers said in a regulatory filing.
Consolidated revenue from operations of the company for the quarter under review declined by 6.54 per cent to Rs 2,857 crore, as against Rs 3,057 crore in the corresponding quarter of the previous year.
For the full 2021-22, the company posted a consolidated PAT of Rs 224.03 crore. It had a loss of Rs 6.07 crore in FY21.
Consolidated revenue from operations of the company went up by 26.18 per cent in fiscal 2021-22 to Rs 10,817.93 crore, compared to Rs 8,573.30 crore in 2020-21.
"The fourth quarter 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,” Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.
This Akshaya Tritiya (FY2022-23) was excellent with significant traction across all regions, including the non-south markets, he added.
"We witnessed significant growth not just in terms of value but footfalls as well. April and the first week of May have been very encouraging both in India as well as the Middle East and are in line with our plan for the current year,” he added.Shares of the company on Wednesday closed at Rs 63.75, up 8.70 per cent on BSE.