Tuesday, 28th September 2004 (4521 views)

India's Vaibhav Gems has released its latest results and reported a 28 per cent growth in turnover for the past financial year.

The exporting firm, which mainly deals in gold jewellery with stones, also announced a 63 per cent rise in profit after tax, according to 123Bharath.

Vaibhav was particularly pleased with its results since there has been an increase in gold prices and a nine per cent depreciation of the US dollar against the rupee during the period.

According to chairman Sunil Agrawal, the company is now planning to re-invest earnings into productive assets and to strengthening delivery and quality.

In addition, jewellery manufacturing at its Sitapura site is being increased and other markets in Europe and Japan are going to be targeted.

 

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