Gitanjali Gem's Q4 consolidated net up 34% on strong jewellery sales

Net sales of the company shot up by 34% to Rs 4,750 crore for Q4

Driven largely by a staggering 57% growth in jewellery sales, Gitanjali Gems, India’s leading gold and diamond jewellery manufacturer and retailer, posted 16% rise in its consolidated net profit at Rs 118.88 crore for the quarter ended March 31, 2013 as compared to Rs 102.91 crore in the corresponding period last year.

Net sales of the company shot up by 34% to Rs 4750.53 crore for the fourth quarter ended of the financial year 2012-13 from Rs 3532.05 crore in the same period last year.

The company’s jewellery sales recorded at Rs 3311.91 crore in the Q4, 2013 as compared to Rs 2112.39 crore in the comparable quarter of previous year.

For the full financial year, however, Gitanjali’s consolidated net profit jumped by 21% to Rs 591.69 crore as against Rs 487.25 crore in the previous year. Similarly, the company’s annual sales recorded a 31% growth at Rs 16418.49 crore for the financial year 2012-13 as compared to Rs 12498.28 crore in the previous year.

The company's leading jewellery brands include D'damas, Gili, Nakshatra, Diya, Asmi, Sangini to name a few.