Gitanjali Gems posts 3-fold jump in Q1 net profit to Rs 57 crore

Press Trust of India | New Delhi Sep 13, 2016 02:42 PM IST
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Gitanjali Gems on Tuesday posted nearly three-fold jump in consolidated net profit to Rs 57.40 crore during the first quarter of the current financial year on higher income.

It had clocked net profit of Rs 19.91 crore in the same period of the 2015-16 financial year.

In a BSE filing, it said its net income increased to Rs 3,710.43 crore in the April-June period of 2016-17, from Rs 2,845.10 crore in the year-ago period.

Gitanjali's revenue from its jewellery business rose to Rs 2,949.50 crore during the quarter under review, from Rs 2,164.61 crore a year ago, while the income from diamond segment declined marginally to Rs 834.82 crore from Rs 848.67 crore.

Its finance cost reduced to Rs 137.42 crore from Rs 194.38 crore in the said period.
The company has more than 4,000 points of sale in India. It also has stores in the US, China and Japan, along with presence in Europe and West Asia.

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