Sonam Kapoor in a campaign image for Kalyan Jewellers. Kalyan Jewellers
Kalyan Jewellers said it witnessed an increase in consumer demand and revenue growth of nearly 60 percent in its India operations in the fourth quarter of fiscal year 2021, ended March 31, compared with the same period last year.
This growth happened prior to recent restrictions on retailers that have been implemented in different states in order to combat India’s current second-wave battle with Covid-19, which has seen all non-essential retail stores shuttered until the end of April in the state of Maharashtra, for example.
The company nominated the shift in consumer demand from the unorganised to organised retail as a significant driver of its recent revenue growth momentum.
Last month, Kalyan Jewellers completed an initial public offering (IPO) raising approximately 800 crore rupees ($107 million).
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