Gitanjali diamond segment grows 15.21%

11 Aug '07

3 min read

Gitanjali Gems Limited, one of India's leading integrated diamond and jewellery manufacturing and retailing companies announced its results for the first quarter ended 30.06.2007.

During the quarter ended 30.06.07, Gitanjali Gems' consolidated results compared over Q1 07-08 and Q1 06-07 reflect superior growth. Sales have grown 42.73 percent, increasing from Rs.67,236.72 lakhs to Rs.95,967.84 lakhs.

The Company's PBT recorded a 77.89 percent increase from Rs. 2,388.21 lakhs last year to Rs. 4,248.37 lakhs while PAT reached Rs. 3605.02 lakhs this quarter from Rs. 2091.16 lakhs, a 72.39 percent growth. Earnings per share increased 68.18 percent from Rs. 3.54 to Rs. 5.95 this year.

Gitanjali's jewellery segment recorded a 158.79 percent consolidated growth, increasing from Rs. 12889.14 lakhs to Rs. 33355.85 lakhs this quarter while the diamond segment grew 15.21 percent.

Over the past quarter, Gitanjali undertook significant measures to consolidate its retail operations and strengthen its branding.

In April 2007,Gitanjali Gems ltd incorporated a new wholly owned subsidiary namely Gitanjali Ventures DMCC which is situated at Dubai Multi Commodities Center, Dubai, UAE.

The main activity of the newly incorporated wholly owned subsidiary is trading in diamonds, precious stones, diamonds jewellery and pearls.

In May 2007, Gitanjali Gems announced that D`Damas Jewellery (India), a joint venture company, has become the company`s 51% subsidiary. D`Damas Jewellery (India) is primarily in the business of manufacturing plain and diamond studded precious metal jewellery. D`Damas is the flagship brand of D`Damas Jewellery (India) and there are several sub-brands, each providing jewellery for a particular occasion.

More Gitanjali Gems Ltd News... More Fashion News - India...