Shares of Kalyan Jewellers hit a 52-week high of Rs 261.90 on 6 October after the company announced its quarterly report for the July-September quarter.

The company achieved a 27% YoY growth in consolidated revenue that comprises sales from its operations in the July-September quarter, as it saw strong footfalls across India and the Middle East for the same.

From its domestic operations, the company clocked a revenue growth of 32% YoY on healthy same-store-sales growth across key markets in India.

The Jewellery maker reported strong sales despite the Adhik Maas period falling in the quarter. This period occurs once every 3 years, wherein wedding jewellery demand tends to take a pause.

The company, in its regulatory filing, said, “The 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. Overall, the first half of the current financial year witnessed 33 per cent revenue growth in India when compared to the same period in the prior year.”

They also announced that they have opened 13 new stores across non-south markets in the quarter and are aiming to open 26 new stores in the next 40 days.

The company has also signed 6 new LOIs (letter of intent) for the first set of pilot franchised showrooms in the south region and is expecting to launch these showrooms in the next 6 months.

At 1:54 pm, the shares of Kalyan Jewellers were trading at Rs 255 or 8.79% above its previous close of Rs 234.40 on NSE.