Net profit of Gitanjali Gems almost doubled in first quarter of 2015

Gems and Jewelry sector in India faces fluctuation every now and then as the buying and selling process increases and decreases as per the season of marriage and festivals in the Nation so price graph of the same can be seen flooded with so many frequent ups and downs. But the last quarter of recent financial year which started from April 1, 2015 and completed on June 30, 2015, proved to be the beneficial 3 months for Gitanjali Gems as their net profit during that period grossed up to Rs 158.014 million, which almost doubled as compared to their last years’ Q1 net profit which was Rs 79.62 million.

The net profit of first quarter of Gitanjali Gems contributes in increasing the total income by 16873.250 million till the end of first quarter which is Rs 1529.404 million more than last years’ first quarter. After posting combined NPT, minority interest and share of P&L of associates (that is Rs 280.522 which increased by Rs 178.986 as compared to last year), the total incomes comes out to be Rs 29526.728 million that includes an increase of Rs 8710.798 million in last year’s total income.

Gitanjali gems Ltd. is one of the key vendors of gems and jewelry across nation who cater the needs of millions and billions of people. Their average stock is intraday high of Rs 41 and intraday low of Rs 40 in its trading of Bombay Stock Exchange.

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