The company noted significant traction during the auspicious occasion of Akshaya Tritiya on May 10, with strong footfalls and revenue across India and the Middle East.

The momentum observed from the beginning of the financial year continued through Akshaya Tritiya, driving substantial retail revenue growth in both gold and studded segments. Kalyan Jewellers reported early double-digit same-store-sales-growth (SSSG) for the first 40 days of the quarter compared to the same period last year.

In the first quarter of 2024-25, Kalyan Jewellers expanded its presence by launching 10 Kalyan showrooms and seven Candere showrooms in India, bringing the total number of showrooms across India and the Middle East to 270 as of May 10, 2024.

Despite the positive operational performance, the company's share price saw a decline. Kalyan Jewellers had reported a significant 97% increase in consolidated profit after tax to Rs.137.49 crore for the March quarter of FY24, along with a 34% surge in consolidated revenue from operations to Rs.4,534.93 crore.

The company's board recommended a final dividend of Rs.1.20 per equity share (12%) for the financial year ending on March 31, 2024. As of 10:25 am, Kalyan Jewellers shares were trading over 3% lower at Rs.396 apiece.