News

Advanced Search

Goenka Diamond's 1Q Sales +24%, Profit +80%

Aug 17, 2012 7:30 AM   By Dilipp S Nag
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Goenka Diamond and Jewels Ltd. reported that group sales rose 24 percent year on year to $22 million (INR 1.22 billion) with strong diamond business revenue during its first fiscal quarter that ended on June 30, 2012. Profit increased 80 percent to $1.6 million (INR 90.6 million), partly helped by other income.

The company, which is in the business of cutting and polishing diamonds and manufacturing and retailing diamond jewelry, reported that diamond business sales rose 57 percent to $19.3 million (INR 1.07 billion). However, sales at its jewelry segment declined 51 percent to $2.7 million (INR 147 million).

Goenka Diamond’s other income jumped to $2 million (INR 109.8 million) during the quarter from $488,363 (INR 27 million) last year. Total expenditures rose 30 percent year on year to $21.5 million (INR 1.19 billion).

Goenka Diamond supplies polished diamonds primarily to wholesalers, jewelry manufacturers, traders and retailers based out of Hong Kong, South East Asia, the U.S., India and other countries. The company retails its diamond jewelry under CERES and G WILD brands.

*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: diamond, Dilipp S Nag, Goenka Diamond, India, Jewelry, Rapaport, retail
Similar Articles
Similar Videos
Sellers are Responsible for Diamond Authentication
Jun 25, 2014
The annual Rapaport Certification Conference that took place at the...
martin Live at Centurion Show:... brauner Brauner Addresses Issues... tanishq Tanishq's Kulhalli Discusses...
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2014 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.