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India’s Tara Jewels Reports 13% Sales Rise in 3Q
Feb 14, 2016 10:29 AM
By Rapaport News
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RAPAPORT... India-based Tara Jewels reported sales increased
13 percent year on year to $83.6 million (INR 5.69 billion) in the third
quarter that ended December 31. Net profit for the period advanced 2.9 percent to
$2.4 million.
Sales in the nine months to December 31
rose 1.7 percent year on year to $180.2 million, according to a statement
February 11 released by the jeweler, whose shares are listed on the Bombay
Stock Exchange. Profit for the nine-month period dipped 7.3 percent to $4.6
million.
The company has a network of 30 stores across
27 cities. These comprise 11 shop-in-shop outlets and 19 operating-format
stores. The jeweler proposes to expand its Indian retail presence through the asset-light
franchise model and shop-in-shop formats and through ecommerce to help
achieve expansion with lesser capital allocation, the statement said.
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Tags:
India, Rapaport News, retail, retail sales, Tara Jewels
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