Gitanjali Gems Ltd, the leading branded jewellery company in India has reported a 77.4 per cent increase in net profit at Rs. 354.8 crore for the financial year ended on 31st March, 2011, as compared to Rs. 200 crore posted in the last fiscal year.
The company is reported to have achieved the targets in terms of sales and more in profitability. The company's net sales of Rs. 9,456 crore for the year ended 31st March, 2011, as compared to Rs. 6,527 crore in corresponding fiscal year, registering a growth of 44.9 per cent.
The plans are further to accentuate the retail space through company-owned and franchising route. It is already 3,300 points-of-sale with about 300 additions in FY'11.