Gitanjali Gems Ltd. has reported its financial results for fiscal year ending March 31, 2008, with an optimistic 19 percent increase in its net sales. Its net profit too surged by 69 percent over last year values. Net sales amounted to $612.1 million, while last year it was $511.8 million, as noted at the Bombay Stock Exchange.

The company’s net profit valued at $31.8 million, and in the last fiscal it was $18.8 million. Net profit margin amounted to 5.2 percent. It is learnt, that the company board of directors are planning to major developments with the company’s overseas businesses.