Gitanjali Revenue +42.8%, Reports Strong International Sales
February 15, 11
(IDEX Online News) - DTC Sightholder Gitanjali Group reported revenues of $1.55 billion for the April-December 2010 period, the first three quarters of fiscal 2010-11. This is an increase of 42.8 percent from $1.08 billion for the same period the previous year.
Net profit, at $57.01 million, was up a whopping 86.8 percent from $30.5 million the previous year. Third quarter revenues alone stood at $583.5 million, 46.5 percent higher than the $398.4 million in revenues earned during the same period of the previous fiscal year.
Diamond sales for the nine-month period stood at $797.7 million, up from $532.7 million in the previous year, increasing 49.7 percent. Jewelry accounted for $805.5 million in sales, up 35.6 percent from $594.1 million in jewelry sales last year.
Reflecting the recovery of global markets such as the U.S., overseas revenue stood at $880.3 million, up 36.1 percent from $646.8 million the previous year. Indian sales accounted for $666 million, up a healthy 52.8 percent from $435.9 million the previous year.