Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

Gitanjali FY2Q Sales +32%

23 november 2012

Gitanjali Gems reported that net sales rose 32 percent year on year to $718.3 million (INR 39.28 billion) in the second fiscal quarter that ended on September 30, 2012.
Net profit grew 14 percent to $28.1 million (INR 1.54 billion) as expenses increased 35 percent to $675.5 million (INR 36.94 billion), the diamond and jewelry company said in a note to the Bombay Stock Exchange (BSE), Rapaport reports.
During the period, diamond revenue rose 5 percent to $307 million (INR 16.79 billion) and profit before tax and interest from the diamond segment grew 7 percent to $10.3 million (INR 564.4 million). Jewelry revenue increased 59 percent to $448.1 million (INR 24.5 billion) and profit before tax and interest at the jewelry segment rose 19 percent to $38.2 million (INR 2.09 billion). Inter-segment sales grew 8 percent to $36.3 million (INR 1.98 ‎billion).
Gitanjali noted that its sales in India soared 67 percent to $447.3 million (INR 24.46 billion) during the quarter, while its sales in the rest of the world, including at its 11 Samuels Jewelers stores in the U.S., fell 2 percent to $271 million (INR 14.82 billion).
During the fiscal first half, Gitanjali’s net sales rose 32 percent to $1.34 billion (INR 73.1 million), while net profit grew 18 percent to $55.7 million (INR 3.04 billion).