Branded jewellery company Gitanjali Gems Ltd has reported a 42.8 per cent increase in net sales at Rs.2,509.71 crore for the quarter ended September 30, 2010, as compared to Rs.1,757.7 crore in the corresponding quarter last fiscal.
For the quarter under review, the group also registered a 52 per cent increase in net profit at Rs.80.04 crore, against Rs.52.74 crore reported in the same quarter of last fiscal year. Commenting on the company performance, Mehul Choksi, MD, Gitanjali Gems Ltd, said, “The momentum in domestic market has been the biggest contributor to this growth.”
He further said, “Focusing on the franchise network, we look forward to penetrating into the hinterlands of the country where the entrepreneurial generation is untapped.”
– IndiaRetailing Bureau