Recently Kalyan Jewellers India Limited presented Quarterly Update for the quarter ended September 30, 2023 or say Q2 FY 2023-2024. In the row Kalyan Jewellers witnesses robust momentum in both footfalls and revenue across all our markets in India and the Middle East recording consolidated revenue growth of ~27% for the recently concluded quarter when compared to the same period in the previous financial year and ~29% revenue growth in the first half of the current financial year when compared to the same period in the prior year.
Kalyan Jewellers saw revenue growth of ~32% for our India operations during Q2 FY2024 as compared to Q2 FY2023, led by robust operating momentum on the ground with healthy same-store-sales growth across all the key markets in the country despite the Adhik Maas period falling in the quarter from the 3rd week of July until the 3rd week of August, a once in a 3-year phenomenon during which wedding jewellery demand tends to take a pause.
However, this impact was mitigated by a fewer number of Shradh days during the recently concluded quarter when compared to the same period in the previous financial year. Non-south markets recorded higher revenue growth largely due to the greater number of showrooms launched in that region over the last twelve months.
As of September 30, 2023, our total number of showrooms across India and the Middle East stood at 209.