The Hindu Business Line : Gitanjali Gems net at Rs 51.4 cr

Gitanjali Gems Ltd has reported a total income of Rs 2,404.71 crore for the year ended March 31, 2006. Profit before tax (after adjusting profit of minority interest and share of associates) stood at Rs 60.62 crore while the net profit stood at Rs 51.44 crore on a consolidated basis. The company recently completed its successful IPO and was listed on the BSE on March 10. The consolidated entity comprises the respective stakes of Mehul Impex Ltd, Gitanjali Export Corporation, Gili India Ltd, D'damas Jewellery and Brightest Circle Jewellery, Cria Jewellery Pvt. Ltd, Hyderabad Gems SEZ Ltd and Fantasy Diamond Cuts Pvt. Ltd. On a standalone basis, the company has reported revenue of Rs 1,622.37 crore for the financial year March 31, 2006. The profit before tax was at Rs 54.31 crore and the net profit was at Rs 47.80 crore. The standalone results reflect the effects of the merger of Gemplus Jewellery India Ltd, Prism Jewellery Pvt. Ltd and Giantti Jewels Pvt. Ltd with Gitanjali Gems Ltd.