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SRS FY Sales +11%, Profits +19%

May 31, 2012 6:26 AM   By Dilipp S Nag
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RAPAPORT... Diversified company SRS Ltd. reported that group net sales rose 11 percent year on year to $407.3 million (INR 22.65 billion) for the fiscal year that ended on March 31, 2012. Growth was driven by its jewelry and cinema business. Net profits jumped 19 percent to $8 million (INR 443.7 million).

The company, which has business interests in jewelry manufacturing and retail along with other sectors, reported that gold and jewelry segment sales increased 23 percent to $323.8 million (INR 18 billion), while cinema business grew 43 percent to $9.5 million (INR 528.4 million). However, cash-and-carry sales declined 26 percent to $69.6 million (INR 3.87 billion), while food and beverages sales were little changed at $3.8 million (INR 213.6 million).

Total expenditure rose 11 percent to $390.7 million (INR 21.73 billion) during the year, SRS reported.

*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
Tags: Dilipp S Nag, gold, India, Jewelry, Rapaport, SRS
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