Kalyan Jewellers share price up 11% on robust revenue growth in Q2

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Kalyan Jewellers share price added over 11 percent intraday on October 7 after the company reported a revenue growth of 60 percent for its India operations during quarter ended September, as compared to the same period in the previous year.

'We continued to witness robust growth in the share of new customers during the quarter, driven largely by the shift from the unorganised to the organised segment," Kalyan Jewellers said in its press release.

The non-south markets recorded a higher same store sales growth of 70 percent compared to south markets which recorded same store sales growth of 40 percent.

During the quarter, 92 percent of our showrooms were operational compared to 88 percent during the same period in the previous year. However, as of September 30, 2021 100 percent of our showrooms were operational, company said.

The company opened one new showroom during the quarter taking the total stores opened during the first half of the current financial year to 10.

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Its online jewellery platform, Candere, recorded a revenue growth of 45 percent during the quarter, compared to the same period during the last year.

At 09:37 hrs Kalyan Jewellers India was quoting at Rs 76.35, up Rs 5.60, or 7.92 percent on the BSE.