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's Revenue -42%, Profit +34%

19 august 2014

Gitanjali Gems Ltd. reported that revenue fell 41.6 percent year on year to $250.8 million (INR 15.26 billion) in the first quarter that ended on June 30. Expenses were reduced 43 percent to $232.8 million (INR 14.16 billion) and profit rose 34 percent to $13.1 million (INR 7.97 billion), Rapaport reports.
Diamond segment revenue plunged 63.1 percent to $86.5 million (INR 5.26 billion), while jewelry revenue fell 12.7 percent to $172.1 million (INR 10.47 billion).  Intersegment revenue, which is deducted from the total, more than tripled to $7.8 million (INR 472 million).
In a statement filed with the Bombay Stock Exchange, the company noted that restriction on gold imports and an unfavorable rupee exchange-rate against the dollar severely impacted results. Gitanjali's overdrawn amount on June 30 totaled $16.5 million (INR 1 billion), mainly from not servicing interest debt during the period.