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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.
Tags: Gitanjali, Gitanjali Gems, India, jewelers, Jewelry, mumbai, Rapaport News, retail
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