International Gemmological Institute Q4 results: Net profit jumps 45% to Rs 114 crore

International Gemmological Institute Q4 results: Net profit jumps 45% to Rs 114 crore

International Gemmological Institute India Ltd on February 28 reported 45% increase in net profit at Rs 114 crore for the quarter ended December 31, 2024. It reported net profit of Rs 78 crore in the year-ago period.

The company's revenue rose 6% to Rs 265 crore in Q4CY24 as against Rs 250 crore in the year-ago period. The recently-listed company's EBITDA rose 18% to Rs 152 crore in Q4CY24 as compared to Rs 128 crore in Q4CY23.

Tehmasp Printer, Managing Director and CEO of IGI said, “IGI’s strong financial performance in 2024reflects our commitment to excellence and leadership in the global diamond certification industry. With a 33% global market share in diamond certification and 65% in lab-grown diamonds, we continue to expand our presence and enhance our service offerings. The successful acquisition of IGI Belgium and IGI Netherlands further strengthens our global footprint, allowing us to serve an even wider customer base. As we celebrate IGI’s 50th anniversary, we remain dedicated to innovation, accuracy, and trust in the jewelry certification ecosystem."

Eashwar Iyer, Global CFO of IGI, said: “Our record revenue and profit in CY 2024 highlights IGI’s operational strength and strategic execution. The 17% revenue growth and 29% PAT growth reflect robust demand for our certification services, while our strong EBITDA margin of 57% underscores our efficiency. We remain committed to delivering on our strategic drivers. With the group now consolidated under India, we aim to leverage India's strengths in manufacturing and polishing alongside IGI’s retail presence in the USA, Europe, and China.”

On February 28, IGI shares closed trading 2% higher at Rs 409 apiece.

The company's board has recently recommended an interim dividend of Rs 2.44 per equity share for CY24.

The global diamond and jewelry industry is undergoing a transformation driven by evolving consumer preferences, technological advancements, and increased demand for certification. Rising disposable incomes, an expanding middle-class, and the growing appeal of diamonds as a luxury investment continue to fuel market expansion, said IGI about the industry trend.

"A significant trend shaping the industry is the rapid adoption of Lab-Grown Diamonds (LGDs), which are gaining worldwide acceptance due to their affordability and sustainability. As independent certification becomes increasingly essential in ensuring authenticity and quality, IGI’s leadership in this space positions it at the forefront of this evolving landscape," added IGI.