Home Fashion Kalyan Jewellers reports Q4 FY21 net profit jump of 54%

Kalyan Jewellers reports Q4 FY21 net profit jump of 54%

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Leading jewellery retailer Kalyan Jewellers has reported a sales boost of 42.78% in the last quarter of FY21, translating to Rs 3056.6 crore in revenues.

The company’s net profit climbed by 54.21% to Rs 74.19 crore in the quarter ended March 2021 as against Rs 48.11 crore during the corresponding period of FY20.

The company reported net loss of Rs 6.30 crore for FY21 as against net profit of Rs 143 crore during the previous fiscal ended March 2020. Reflecting depressed consumer spending and muted festive and wedding celebrations as a result of the Covid-19 pandemic during FY21, sales declined 15.12% to Rs 8573.31 crore in the year ended March 2021 as against Rs 10100.92 crore during the previous financial year.

Kalyan Jewellers’ Rs 1175 crore IPO in March was oversubscribed by 2.6 times, following which it listed on the National Stock Exchange of India and Bombay Stock Exchange on March 26.