Gitanjali Gems, the flagship company of Gitanjali Group has posted 39 per cent jump

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in net profit at Rs 41 crore in the third quarter of 2009-10.

The company's jewellery sales turnover rose by 60 per cent to Rs 1,098 crore in Q3 FY 10, a release said.

For the nine-month period ended December 2009, the company's jewellery sales turnover increased by 43 per cent to Rs 2,703 crore as compared to Rs 1,892 crore in the year-ago period, the statement said.

Net profit for the period stood at Rs 139 crore as compared to Rs 120 crore in the year-ago period, an increase of 16 per cent.

Commenting on the business outlook, Gitanjali Group's Chairman and Managing Director Mehul Choksi said, "third- quarter results are in-line with our focus on extension in the downstream. Introducing additional and promising jewellery brands and the focus on retail expansion has further helped in gaining market share for the group."