Gitanjali Gems posts 8% rise in net profit during Mar quarter

MUMBAI: Gitanjali Gems, a diamond jewellery maker and retailer, has registered net profit worth Rs 103 crore during the fourth quarter ending March 2012, witnessing 8% jump as compared to Rs 95.50 crore in the year ago period.

The firm's overall income rose to Rs 3,560.57 crore in the March quarter as against Rs 2,451.80 crore in the same period of 2010. The consolidated net profit for the financial year 2011-12 rose 37% to Rs 487.25 crore.

The firm's overall income climbed to Rs 12,646.38 crore in the FY12 as compared to Rs 9,480.96 crore for the year ended March 31, 2011. Meanwhile, the company announced the re-appointment of Mehul C Choksi as Managing Director for a time span of five years with effect from August 1.