Gitanjali Gems surges 20 pc as Q1 numbers shine

Shares of Gitanjali Gems soared 20 per cent today after the company posted nearly three-fold jump in consolidated net profit during the June quarter.
The scrip advanced 19.96 per cent to settle at Rs 57.40 -- its upper circuit limit -- on BSE.
At NSE, shares of the company surged 20 per cent to end at Rs 57.30.
Volume-wise, 12.66 lakh shares of the company were traded on BSE and over 53 lakh shares changed hands at NSE during the day.
Gitanjali Gems yesterday posted nearly three-fold jump in consolidated net profit to Rs 57.40 crore during the first quarter of the current fiscal on higher income.

It had clocked net profit of Rs 19.91 crore in the same period of 2015-16.
In a BSE filing, it said its net income increased to Rs 3,710.43 crore in the April-June period of 2016-17, from Rs 2,845.10 crore in the year-ago period.
Gitanjali's revenue from its jewellery business rose to Rs 2,949.50 crore during the quarter under review, from Rs 2,164.61 crore a year ago, while the income from diamond segment declined marginally to Rs 834.82 crore from Rs 848.67 crore.