Kalyan Jewellers reported flat margins for the fourth quarter of its fiscal year, as higher costs weighed on profitability. The jewellery retail major reported a net profit of Rs 43.86 crore for the quarter ended March 31, 2021, compared to Rs 43.73 crore a year ago. The company’s total income for the period stood at Rs 1,821.02 crore, up from Rs 1,622.87 crore in the same period a year ago.
However, higher costs weighed on the company’s profits, as gross profit margin for the quarter stood at 12.9 percent, flat from a year ago. Operating expenses too rose by 16.5 percent to Rs 338.92 crore.
Kalyan Jewellers reported a healthy 24.5 percent jump in sales for the period, with revenue from operations increasing to Rs 1,705.72 crore from Rs 1,368.89 crore a year ago. The company said it had opened 12 new showrooms during the quarter, taking the total number of showrooms to 179.