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C. Mahendra Exports FY Sales +6%, Profit -28%
May 16, 2012 5:15 AM
By Dilipp S Nag
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RAPAPORT... C. Mahendra Exports Ltd. reported that net sales rose 6 percent year on year to $361.1 million (INR 19.48 billion) for the fiscal year that ended on March 31, 2012. The Mumbai-based diamond and jewelry manufacturer didn’t cite a specific reason for the increase.
Net profit, however, fell 28 percent to $7.7 million (INR 414.1 million) during the year due to higher expenditure and finance costs.
Total expenditures rose 7 percent to $344.9 million (INR 18.61 billion), while finance costs surged 47 percent to $19.5 million (INR 1.05 billion), C. Mahendra reported. The company sells its jewelry under the brand name “Ciemme.”
*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange- rate conversions by Rapaport News.
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Tags:
C. Mahendra, C. Mahendra Exports, Ciemme, diamond, Dilipp S Nag, India, Jewelry, Rapaport
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