Shares of Kalyan Jewellers India climbed as much as 6% to an intraday high of Rs 581.2 apiece on the NSE on October 7 after the jewellery retailer reported a 26% year-on-year increase in consolidated revenue for the September quarter. Revenue from its India operations grew 27% during the quarter.
The company recorded around 20% growth in same-store sales despite a high base, supported by strong Navratri sales in the year-ago period. Kalyan Jewellers was the top gainer in the Nifty 200 index.
The stock ended 4% higher at Rs 571 on October 7, with more than 18 million shares changing hands. The traded volume was below the three-month average daily volume of nearly 22 million shares.
Revenue from international operations increased around 18% year-on-year, while revenue from West Asia rose 12%, driven by same-store sales growth. International markets accounted for 11% of the company's overall revenue mix, according to an exchange filing.
Revenue from lifestyle jewellery brand Candere jumped 64% year-on-year during the quarter. Kalyan Jewellers added 11 Kalyan stores and nine Candere showrooms in India on a net basis, along with one showroom in the UK. The company also launched its first regional brand, Akshaya Thanga Maligai, in Chennai and plans to open four stores under the brand during the current financial year.