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Thangamayil Jewellery 1Q Profit +42%
Jul 25, 2012 7:31 AM
By Dilipp S Nag
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RAPAPORT... Thangamayil Jewellery Ltd. reported that its fiscal-first-quarter profit rose 42 percent year on year to $2.7 million (INR 151.3 million) from $1.9 million (INR 106.4 million) a year earlier.
Growth was driven by higher sales, which increased 61 percent year on year to $64.7 million (INR 3.58 billion) in the period that ended on June 30, 2012.
The company, which owns jewelry stores in the southern Indian city of Madurai and trades in gold, diamond and platinum jewelry, didn’t detail specific reasons for the sales increase. Total expenditures grew 61 percent to $59.1 million (INR 3.27 billion) during the quarter.
*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:
diamond, Dilipp S Nag, gold, India, jewellery, Jewelry, Rapaport, Thangamayil Jewellery
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