Summary
Gitanjali Gems announces its ist quarter results of 2008-2009. Company shoes some good result in India as well as Outside India.
Analysis
Indian jewellery maker Gitanjali Gems Ltd. declares its result in which they shows that their net profit rose by 15% to Rs.41.77 crore ($9.8 million) for the first quarter ended June 30 versus the same period last year. Revenue for the three-month period amounted to Rs.1,219.23 crore ($288.43 million), a growth of 27% over the corresponding period of the last fiscal year.
Group sales rose 8.8 percent to INR 7.12 billion ($168.29 million) in the three months ending June 30 with jewelry sales up 16 percent to INR 2.29 billion ($54.22 million,) and diamond revenues rising 11 percent to INR 5.11 billion ($120.97 million.) Inter segment sales quadrupled to INR 291.69 million ($6.9 million,) the company said.
The company’s net profit margin declined marginally from 3.74% last year to 3.42% in the three months to end June 2008.
Profits before taxation and interest rose 30 percent to INR 4.91 billion ($11.6 million,) with the diamond segment’s profits rising 0.6 percent to INR 2.05 billion ($4.86 million,) and jewelry up 64 percent to INR 2.86 billion ($6.76 million.)
Company can do much better then this.
