Gitanjali Gems posts Q4 net profit at Rs 5.14 cr

Gitanjali Gems today posted a consolidated net profit of Rs 5.14 crore in the fourth quarter ended March, on higher income.
The company had reported a net loss of Rs 23.24 crore in the same quarter of 2015-16, the BSE filing said.
Net income increased to Rs 5,544.64 crore in the January- March quarter of 2016-17 fiscal from Rs 4,282.73 crore in the year-ago period.
Expenses remained high at Rs 5,461.73 crore as against Rs 4,128.44 crore in the said period.
For the full year 2016-17, the company's net profit rose to Rs 167.71 crore from Rs 103.71 crore in 2015-16.

Net income improved to Rs 16,572.86 crore from Rs 13,984.49 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.
Shares of the company ended 0.22 per cent up at Rs 67.60 on BSE.