• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney Invest Now master your money
Moneycontrol

Home » News » Earnings » Results

Feb 15, 2017, 08.17 AM | Source: PTI

Gitanjali Gems Q3 profit drops 73%, interest cost bites

Net income fell to Rs 1,925.08 crore in October-December of 2016-17, from Rs 2,641.12 crore in the previous year, said the company in a BSE filing.

Like this story, share it with millions of investors on M3

Gitanjali Gems Q3 profit drops 73%, interest cost bites

Net income fell to Rs 1,925.08 crore in October-December of 2016-17, from Rs 2,641.12 crore in the previous year, said the company in a BSE filing.

Post Your Comments

Share Cancel

| 1 Comments
Gitanjali Gems Q3 profit drops 73%, interest cost bites
Gitanjali Gems suffered a 73 percent fall in its standalone net profit at Rs 5 crore during the third quarter to December on lower sales and high interest cost.

It had clocked a net profit of Rs 18.46 crore in the same period of 2015-16.

Net income fell to Rs 1,925.08 crore in October-December of 2016-17, from Rs 2,641.12 crore in the previous year, said the company in a BSE filing.

Diamond sales dropped to Rs 387.74 crore, from the earlier Rs 846.43 crore, and jewellery sales fell to Rs 1,577.35 crore, from Rs 1,833.16 crore.

Expenses remained lower at Rs 1,873.11 crore as against Rs 2,533.38 crore, but interest costs were higher at Rs 118.31 crore compared with Rs 75.45 crore in the said period.

The company has more than 4,000 points of sale in India.

It also has stores in the US, China and Japan, along with presence in Europe and West Asia.

Buy, Hold, Sell ? Hear it first on M3
Gitanjali Gems Q3 profit drops 73%, interest cost bites

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login