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Gitanjali’s Sales and Profit Jump
Sep 21, 2016 7:04 AM
By Rapaport News
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RAPAPORT... Gitanjali Gems’ revenue and profit soared
in the first fiscal quarter as higher jewelry sales outweighed a dip in diamond
revenue.
Group sales on a consolidated basis grew 30
percent to $553.5 million (INR 37.1 billion) in the three months that ended
June 30, the Mumbai-based jewelry retailer reported. Jewelry revenue leapt 36
percent to $440 million, outweighing a 1.6 percent decline
in diamond sales to $124.5 million.
Net profit for the period almost quadrupled
to $8.6 million.
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Tags:
Gitanjali, Gitanjali Gems, India, jewelers, Jewelry, mumbai, Rapaport News, retail
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