Bullion India eyes to triple revenues in 2014-15

Online investments provider for gold and silver, BullionIndia.In has set a target of tripling its turnover to Rs 150 crore this fiscal, following spurt in the e-commerce market, says a PTI report, quoting a top official of the company.
Bullion India eyes to triple revenues in 2014-15

Online investments provider for gold and silver, BullionIndia.In has set a target of tripling its turnover to Rs 150 crore this fiscal, following spurt in the e-commerce market, says a PTI report, quoting a top official of the company.

"This fiscal, we are targeting Rs 150 crore in gold and silver revenue.. We are also planning to set up delivery centres across the country...," Bullion India Director Ketan Kothari told reporters here.

Elaborating, he said, the company which began operations in 2012, registered a turnover of Rs 50 crore during the financial year 2013-14.

"Our revenues were about Rs 50 crore in last fiscal. The market was not growing at that time. But in 2013, the e-commerce industry grew by 88 per cent", he said.

Noting that 70 per cent of the imported gold was consumed by jewellers, he said the remaining 30 per cent was for investments alone.

To a query, he said the company sold 150 KG of gold and 1,200 kg of silver during the last financial year.

 Bullion India has 19 outlets and partnered with 4,000 jewellers across the country, he said.

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