Gitanjali bottom line up 86% to Rs 134 cr

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Gitanjali Gems today reported 86 per cent increase in net profit at Rs 133.79 crore for the third quarter ended December 2006, against Rs 24.82 crore in the corresponding period previous year.

Total revenues grew 67 per cent to Rs 328.66 crore for the October-December period of 2006-07 compared with Rs 548.52 in the same period in 2005-06.

The company's net profit for the nine-month ending December 31, 2006, grew 86 per cent to Rs 68.18 crore against Rs 36.75 crore in the same period last fiscal, the company said in a release.

Revenues for April-December 2006-07 stood at Rs 1,546.22 crore, up 35 per cent from Rs 1,143.82 crore in the first nine months of 2005-06.

Consolidated net profit for the company increased over one fold for the quarter ended December 2006 at Rs 31.36 crore against Rs 15.62 crore in the corresponding quarter previous year.

Consolidated revenues increased 52 per cent at Rs 798.48 crore compared with Rs 524.13 crore in the same quarter previous fiscal.

For the nine months ending December 2006, Gitanjali reported 95 per cent increase in net profit to Rs 82.74 crore against Rs 42.34 crore in the previous year.

The company's consolidated revenues for April-December this fiscal grew 32 per cent at Rs 2,209.67 crore against Rs 1,677.26 crore in the corresponding period of previous fiscal.