Gitanjali Sales Up 39 Percent



On Aug. 12, Indian diamond manufacturer and retailer
Gitanjali Gems reported a 39 percent net
sales growth in the first quarter of 2011.

Here are some highlights from the company’s financial
statement for the first quarter (ended June 30):

  • Net sales: $573 million, up 39%
  • Net profit: $27 million, up 55%

The company also announced that its leading brands—Gili,
Nakashtra, Asmi, and D’Damas—are transforming into chain stores.