The Bombay Stock Exchange. File photo: Reuters
Mumbai: Share price of the Thrissur-headquartered jewellery retailer Kalyan Jewellers tanked on BSE by over 10 per cent to ₹527.65 on Friday, a day after it declared a 48.73 per cent growth in consolidated profit after tax (PAT) to ₹264.08 crore during the quarter ended June 30.
Opening at 590.75, the scrip lost 10.68 per cent, or ₹63.10, during the day on the BSE. On NSE, it lost 10 per cent to finish the day at ₹531.85.
On Thursday, the company reported that its revenue from operations increased 31.48 per cent during the quarter under review to ₹7,268.47 crore compared to ₹5,527.81 crore a year ago.
The company’s PAT stood at ₹177.55 crore in the corresponding period of the previous fiscal year, the jeweller said in a regulatory filing.
“We have started the ongoing quarter well despite continuing volatility in gold prices and a higher base. We are upbeat about the upcoming festive season across the country and are gearing up for the launch of fresh collections and campaigns,” Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.
(With PTI inputs)
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