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Mumbai--The 111 stores Mumbai-based Gitanjali Gems Limited operates in the United States grew in both sales and profitability in the third quarter, results released last week by the company show.

Gitanjali, which operates the Rogers Jewelers and Samuels Jewelers chains, said sales grew 8 percent for its U.S. business in the third quarter ended Dec. 31 while net profit rose 15 percent. “The U.S. business of the group ... has turned around,” the company said.

As a whole, the company, which also operates retail stores in India as well as diamond polishing and manufacturing facilities, reported that revenue for the quarter was up 33 percent, from $538.7 million to $715.6 million. Net profit rose 28 percent, from $20.5 million to $26.2 million.

For the nine months ended Dec. 31, sales were up 32 percent and net profit increased 48 percent.

“The group has performed strongly across its various segments. ... Profits have grown faster than sales on account of economies of scale achieved in operations and a strategic shift toward jewelry retailing. The quarter has been significant for our U.S. business primarily due to profitability stemming from supply chain synergies,” Gitanjali Chairman and Managing Director Mehul Choksi said.