International Gemological Institute reported a 43.14 per cent rise in consolidated profit after tax to Rs 185.8 crore on Wednesday. Revenue from operations grew 31 per cent to Rs 398 crore. Managing Director Tehmasp Printer said, "Lab-grown diamonds have started to witness higher adoption," as festive demand boosts all business segments.
The International Gemological Institute recently announced an impressive 43.14 percent growth in profit after tax for the previous quarter. Operational revenue rose by 31 percent compared to last year. Demand for both lab-grown and natural diamonds remains strong, particularly as the festive season approaches, prompting retailers and manufacturers to anticipate a surge in sales across their segments.
International Gemological Institute (IGI) on Wednesday reported a 43.14 per cent rise in consolidated profit after tax (PAT) to Rs 185.8 crore, on healthy demand and strong operational execution.
The company's PAT was Rs 129.8 crore during the corresponding period of the previous fiscal year, the company said in a regulatory filing.
Its revenue from operations rose 31 per cent to Rs 398 crore during the quarter under review from Rs 303.7 crore in the year-ago period.
"The second quarter of FY27 was marked by healthy demand trends and strong operational execution, with consolidated revenue up 31 per cent and PAT up 43 per cent year-on-year. IGI is category-neutral by design - certifying natural diamonds, lab-grown diamonds, jewellery and coloured gemstones to give buyers and sellers independent, consistent assurance of what they are buying.
"Lab-grown diamonds have started to witness higher adoption, while natural diamonds and gemstones remain a key growth lever for us," IGI Managing Director and CEO Tehmasp Printer said.
As the industry enters its peak festive season in India and the US holiday ordering cycle ramps up, retailers and manufacturers are positioning for higher demand, and we are seeing encouraging trends across all our business segments, he added.