Kalyan Jewellers shares jump nearly 5 pc

Shares of Kalyan Jewellers on Thursday gained nearly 5 per cent after the company said it has witnessed a robust increase in consumer demand and seen revenue growth of nearly 60 per cent in its India operations in the fourth quarter ended March 31, 2021.

The stock jumped 4.58 per cent to close at Rs 73.10 on the BSE. During the day, it gained 7 per cent to Rs 74.85.

On the NSE, it rose by 4 per cent to close at Rs 72.75.

In traded volume terms, 7.17 lakh shares were traded at the BSE and over 48.24 lakh shares at the NSE during the day.

In the fourth quarter of the financial year 2021, the company witnessed a robust increase in consumer demand resulting in revenue growth of approximately 60 per cent for our India operations, as compared to the same quarter in the prior year, Kalyan Jewellers said in a quarterly update.

Revenue growth for the first two months of the quarter (January and February) was approximately 35 per cent, while growth in March was significantly higher, skewed by the loss of sales we experienced in the base due to the COVID-19 pandemic's impact on our retail operations in March 2020, it added.

The company said the vast majority of its growth in the recent quarter was same store sales driven, as only two stores were opened during the past one year period.