Gitanjali Gems Q4 net rises 8% to Rs 102 cr

Total income is up 45% at Rs 3,560 cr

Jewellery maker and retailer Gitanjali Gems group today posted nearly 8% growth in consolidated net profit at Rs 102.91 crore for the fourth quarter ended March 31, 2012.

The group had reported a consolidated net profit of Rs 95.50 crore for Q4, 2011.

The company's total income increased to Rs 3,560.57 crore for the quarter under review, from Rs 2,451.80 crore for the quarter ended March 31, 2011, Gitanjali said in a filing to the BSE.

For the 2011-12 fiscal, the group posted a robust 37% growth in consolidated net profit at Rs 487.25 crore as compared to Rs 354.81 crore in 2010-11.

The company's total income increased to Rs 12,646.38 crore during the fiscal, from Rs 9,480.96 crore for the year ended March 31, 2011.

In a separate filing, Gitanjali Gems said its board has recommended a dividend of Rs 3 per equity share of Rs 10 each for the year ended March 31, 2012.

The company also announced re-appointment of Mehul C Choksi as Managing Director for a period of five years with effect from August 1, 2012.

On standalone basis, Gitanjali Gems posted 31% decline in net profit to Rs 45.25 crore for the quarter ended March 31, 2012, against Rs 66.29 crore in the same quarter last year.

Total income has increased to Rs 2,206.47 crore for the quarter ended March 31, 2012, from Rs 1,507.58 crore for the quarter ended March 31, 2011, it said.

For the 2011-12 fiscal, the standalone net profit grew by 15% to Rs 258.33 crore as compared to Rs 224.60 crore for the year ended March 31, 2011.

Total Income has increased from Rs 5,130.34 crore for the year ended March 31, 2011 to Rs 7,853.01 crore for the year ended March 31, 2012, the filing said.