IGI Q4 Net Profit Soars 45%: Blackstone-Backed Gemmological Institute Reports Strong Growth

New Delhi, Feb 28 (PTI) Blackstone-backed International Gemmological Institute (IGI) on Friday posted a 45 per cent jump in consolidated net profit at Rs 113.78 crore for fourth quarter of the 2024 calendar year.

The company, in a statement, said it had clocked a net profit of Rs 78.43 crore in the year-ago.

IGI, listed on both BSE and NSE in December 2024, reported a total revenue of Rs 256 crore for Q4 of 2024 calendar year, six per cent jump from the previous year.

For the full 2024 calendar year, the company posted a net profit of Rs 427.29 crore, up by 29 per cent from Rs 330.84 crore in the previous year.

Total revenue rose 17 per cent on a consolidated basis to Rs 1,053.16 crore in 2024 from Rs 898 crore in the previous year.

The Board recommended an interim dividend of Rs 2.44 per equity share for 2024 calendar year.

IGI Managing Director and CEO Tehmasp Printer said, "With a 33 per cent global market share in diamond certification and 65 per cent in lab-grown diamonds, we continue to expand our presence and enhance our service offerings."

The successful acquisition of IGI Belgium and IGI Netherlands further strengthens the company's global footprint, allowing it to serve an even wider customer base.

"With the group now consolidated under India, we aim to leverage India's strengths in manufacturing and polishing alongside IGI's retail presence in the USA, Europe, and China," said Eashwar Iyer, Global CFO of IGI.

Shares of the company settled higher by 2.30 per cent at Rs 407.30 a piece on the BSE on Friday.

IGI is India's largest independent accreditation and certification services provider with a 50 per cent market share.