Kalyan Jewellers has announced the establishment of a subsidiary in Oman as part of its business expansion. The recently formed subsidiary, named Kalyan Jewellers Procurement SPC, completed its incorporation on December 28, 2023, according to a regulatory filing.
“The object of incorporation of this step down subsidiary is to expand jewellery business in Oman,” it added.
Kalyan Jewellers’ H1 Net Profit Surges:
Kerala-based Kalyan Jewellers saw a 30 percent increase in consolidated net profit, reaching INR 278 crore in the first half of the current fiscal year, compared to INR 214 crore in the corresponding period last year.
It boasts 209 showrooms spanning India and the Middle East.
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