Gitanjali H1 Sales +32% to $1.3 Billion, Profit +18% to $55 Million
November 09, 12
(IDEX Online News) – The Gitanjali Group announced sales of Rs.70.3 billion ($1.34 billion) for the six months ended September 30. This is a 32 percent increase over the corresponding period last year. Profit after tax for the period was up 18 percent to Rs.3 billion ($55 million).
Jewelry sales for the six-month period were up 48 percent to Rs.42.8 billion ($781.1 million).
The company said it had balanced its portfolios of diamond- and gold jewelry as well as its domestic and international business.
Commenting on the performance, Gitanjali Chairman and Managing Director Mehul Choksi said, “Stable gold prices have driven volumes during the (third) quarter in India