Kalyan Jewellers Q4 profit nearly doubles to Rs 137 crore

Kalyan Jewellers announced 97 per cent surge in consolidated profit after tax (PAT) to Rs 137.49 crore during the fourth quarter ending March. In comparison, the jewellery retailer's PAT was at Rs 69.79 crore in the corresponding period last year, as disclosed in a regulatory filing.

Consolidated revenue from operations also demonstrated impressive growth, climbing by 34 per cent during the quarter under review to Rs 4,534.93 crore, compared to Rs 3,381.80 crore in the same quarter of the previous year.

The company's board of directors has recommended a final dividend of Rs 1.2 per equity share for the financial year concluded on March 31, 2024, subject to shareholder approval. This proposed dividend represents a payout exceeding Rs 120 crore, which accounts for more than 20 per cent of the net profit generated during FY24, as stated by the company.

Commenting on the financial performance, Kalyan Jewellers India's Executive Director, Ramesh Kalyanaraman, remarked, "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 wedding purchases during the current quarter and Akshaya Tritiya."

(With PTI inputs)