Gitanjali Gems net up 8%

Diamond jewellery maker and retailer Gitanjali Gems posted a net profit of Rs 103 crore in the fourth quarter ending March 2012, up 8 per cent from Rs 95.50 crore in the year ago period. The company's total income increased to Rs 3,560.57 crore in the same from Rs 2,451.80 crore last year. The consolidated net profit for the FY 12 was up 37 per cent at Rs 487.25 crore. The company's total income increased to Rs 12,646.38 crore during the fiscal, from Rs 9,480.96 crore for the year ended March 31, 2011. The company also re-appointed Mr Mehul C Choksi as Managing Director for a period of five years with effect from August 1. —