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Gitanjali Gems Q1 profit up 21% at Rs 69 cr on robust sales

Revenue from the diamond business increased significantly to Rs 1,662.96 crore

Press Trust of India  |  New Delhi 

Gitanjali gems
Photo: Kamlesh Pednekar

Gitanjali posted a 21.2 per cent jump in consolidated at Rs 69.46 crore in the first quarter ended June on robust

stood at Rs 57.31 crore in the year-ago period, the company said in a filing.

Total increased by 51.22 per cent to Rs 5,611.06 crore in the April-June quarter of 2017-18 fiscal from Rs 3,710.43 crore in the same period last year.

from the increased significantly to Rs 1,662.96 crore from Rs 834.82 crore, while that of jewellery segment rose to Rs 4,258.12 crore from Rs 2,949.50 crore in the said period.

Expenses remained slightly lower at Rs 5,438.34 crore in the quarter under review as against Rs 5,461.73 crore in the year-ago period.

The company said it has received approval from for allotment of 2.08 crore convertible warrants on preferential basis to promoter group and two persons other than promoters. The approval from the for the same is awaited.

The warrants will be issued at Rs 45.97 including premium of Rs 35.97 per share.

First Published: Sat, August 12 2017. 20:34 IST