• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Advertisement

Mumbai Jan. 24 Gitanjali Gems Ltd has reported an 85.57 per cent increase in net profit for the third quarter ended December 31, 2006. Net profit for the quarter rose to Rs 24.82 crore from Rs 13.37 crore for the corresponding year ago quarter.

Net sales grew 66.89 per cent from Rs 328.66 crore to Rs 548.52 crore.

While the consolidated profit after tax, at Rs 31.36 crore, grew 100 per cent, consolidated revenues, at Rs 798 crore, recorded a 52 per cent growth.

Gitanjali's strategy to change its sales mix to emphasise on retail jewellery segment has allowed it to realise higher margins, said a statement from the company.

It has followed an aggressive retail growth strategy by expanding its presence to around 840 retail outlets to market its brands in India.

"The improved sales results in retail contributing to almost half our profits and this is set to improve as we move forward," said Mr G.K. Nair, Executive Director, Gijanjali Gems.

"The strategic Samuels acquisition will further boost this," he said.The company shares traded marginally higher on the BSE on Wednesday closing at Rs 231.85 per share, up from Rs 229.75 the previous day.

More Stories on : Gems & Jewellery

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Greenply net profit up 76 pc

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line