Kalyan Jewellers Records Higher Footfalls And Robust Revenue Growth On Dhanteras

Jewellery retailer Kalyan Jewellers on Wednesday said it recorded higher footfalls from existing and new customers which resulted in robust revenue growth on Dhanteras. In its regulatory filings to the Bombay stock exchange, the jeweller said the company witnessed a continued sales momentum in the plain gold segment. Additionally, it also registered a significant increase in the studded jewellery category. 

The company, however, did not reveal any numbers. 

"Kalyan Jewellers has been witnessing a strong momentum in footfalls and revenue for the past three quarters, starting from the same period during the last financial year (Q3 FY 2020- 21). The traction has continued during this festive season, with October registering good sales momentum," the company stated in the filing. 

The company added that that the Middle East markets too have been vibrant with the start of the festive season and on Dhanteras. It expects the upward momentum in Middle East markets to continue with upcoming events such as World Cup and Expo 2020 in the region. 

Overall, the company asserts that the season has seen positive trends and its revenue growth across categories has been on target.

On October 7, the company had stated the company had recorded an upward trend in footfalls and revenues with the easing of COVID-19 related restrictions accompanied by buoyancy in consumer sentiments across markets. "We continue to be encouraged by the trends we are seeing relating to our underlying operating performance, and believe the pace of demand recovery has exceeded what we experienced during the prior year," the company had stated in a regulatory filing to the Bombay Stock Exchange. 

It informed that overall same-store sales growth in India during the September-end quarter was approx 50 per cent on a year-over-year basis. Revenue growth stood at about 60 per cent in India for the same period.