May 8 (Reuters) - India's Kalyan Jewellers reported a sharp rise in fourth-quarter profit on Friday, helped by strong jewellery demand across markets.
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Net profit at 4.10 billion rupees ($43.40 million) for the quarter ended March 31, from about 1.88 billion rupees a year earlier.
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Revenue from operations rose 66.2% year-on-year to 102.75 billion rupees.
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Total expenses rose 63.8% on-year to 97.82 billion rupees, on elevated gold prices.
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Revenue from India operations grew 68%, while international revenue grew over 43%.
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Revenue at its digital platform, Candere, came in at 1.31 billion rupees.
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The company also declared a final dividend of 2.50 rupees per share.
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"We continue to see encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter," Ramesh Kalyanaraman, Executive Director at Kalyan Jewellers, said in a statement.
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Company shares closed up 3.26% at 424.55 rupees after results on Friday.
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Analysts at Motilal Oswal said jewellery demand in India is likely to remain resilient amid a shift towards organised players.
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Larger rival Titan reported a smaller-than-expected fourth-quarter profit on Friday.
($1 = 94.4800 Indian rupees)
Reporting by Bipasha Dey in Bengaluru; Editing by Mrigank Dhaniwala
Source: Reuters