Company Gitanjali Gems Ltd. announced an increase in sales of the group by 27% on a year-on-year basis to $ 2.9 billion (164 billion rupees) for the fiscal year ended March 31, Rapaport reports. Successful sales results were recorded in the category of gold jewelry, as well as through online channels. The company's profit for the year increased by 21% to $ 105.4 million (5 billion rupees).
"Diversified sales channels, a variety of product categories and regions of its distribution have provided us with such a welcome growth. We continue to focus on quality indicators of this growth to ensure the greatest profit from the sale of branded jewelry of our brands, "said Mehul Choksi, Chairman and Managing Director of Gitanjali Gems. - India remains our key market, which opens huge opportunities. We have significantly increased the number of franchise outlets and shops under our management in cities of the 2nd and 3rd level and we see a growth in sales throughout India. "
Sales of the Gitanjali diamond division rose 26% year-on-year to $ 1.2 billion (Rs 68.8 billion), while jewelery sales jumped 45% to $ 1.8 billion (Rs 101 billion).
Gitanjali's sales in India grew 59% to $ 1.7 billion (95.9 billion rupees), while international sales increased 6% to $ 1.2 billion (68.2 billion rupees), thanks to the opening of 4 stores in the Middle East region and good results of the Christmas season in the US.