Gitanjali Gems posted 46% jump in March quarter sales

MUMBAI: Maker of ‘Asmi’ and ‘D’damas’ brand of jewellery Gitanjali Gems Ltd (GGL) posted 46% jump in revenue at Rs 3, 532 for the forth quarter ended on March 2012. The jewellery and retail conglomerate also posted 37% increased net profit at Rs 487 crore for the year ended March 31, 2011.

Mumbai based GGL said in its release that company’s Earnings per Share (EPS) (diluted) for the financial year 2012 stood at Rs 55.4 as compared to Rs. 35.95 per share for the last fiscal achieving a growth of 54%.

“With a balanced portfolio between India and overseas as well as between diamond jewellery and gold jewellery the annual performance has accelerated. Gitanjali today is the world’s largest integrated jewellery company, it will continue to access largest and fastest growing jewellery markets.” said Mehul Choksi, Chairman and Managing Director, Gitanjali Gems. “Realignment of the Group’s business into verticals focusing on the Indian business and the international business will unlock huge value for its stakeholders”

In October 2011, Brand Finance, UK valued 9 of the Group’s Indian brands at Rs 5,584 crore. GGL has launched new brands such as Amore, GDivas, among others in India as part of its constant endeavour to extend its product range thereby, rapidly filling gaps and addressing an ever-growing demand for branded jewellery in India.