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Diamond jewellery maker Gitanjali Gems reported a marginal two per cent increase in profits at Rs 151 crore in the second quarter. The company posted a profit of Rs 148 crore in the year-ago period. However, the revenues in the July-September quarter were up 32 per cent at Rs 3,928 crore compared with Rs 3,384 crore in the corresponding quarter last fiscal. “Stable gold prices have driven volumes during the quarter in India. With the upcoming Diwali and marriage seasons we are expecting better sales,” said Mehul Choksi, Chairman.
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