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Shree Ganesh's Sales Soar in 4Q

May 24, 2012 7:45 AM   By Dilipp S Nag
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RAPAPORT... Shree Ganesh Jewellery House Limited (SGJHL) reported that group sales rose 65 percent year on year to $376.4 million (INR 21.06 billion) during its fourth fiscal-quarter that ended on March 31, 2012. The company derives more than 85 percent of its sales from overseas markets such as the United Arab Emirates (UAE,) Singapore and Hong Kong.

Net profits more than tripled to $34.7 million (INR 1.94 billion) during the period from $10.1 million (INR 565.5 million) a year earlier.

Group expenditures rose 57 percent year on year to $335 million (INR 18.74 billion) during the quarter. Kolkata-based SGJHL makes gold jewelry, diamond jewelry, gemstone-studded jewelry and light-weight Italian jewelry and operates GAJA retail outlets.

For the fiscal year, the company’s net profit rose 57 percent year on year to $82.4 million (INR 4.61 billion) while net sales increased 73 percent to $1.80 billion (INR 101.21 billion).

SGJHL's stock closed 20 percent higher at INR 85.60 per share Thursday on the Bombay Stock Exchange.

*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
Tags: Dilipp S Nag, India, Jewelry, Rapaport, SGJHL, Shree Ganesh Jewellery
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