RAPAPORT... Renaissance Jewellery Ltd. reported that revenue surged 41.9 percent year on year to $58.3 million (INR 3.63 billion) in the third quarter that ended on December 31. The manufacturing firm's expenses jumped 37.9 percent to $55.1 million (INR 3.42 billion) and profit grew to $2.4 million (INR 153 million) from $350,000 (INR 23 million) one year ago.
Similarly, Renaissance Jewellery's results were equally as strong for the first three quarters of its fiscal year. Revenue rose 40 percent to $125 million (INR 7.77 billion), expenses jumped 40 percent to $119 million (INR 7.41 billion) and profit increased 87 percent to $4.1 million (INR 253 million).
Renaissance Jewellery manufactures and sells studded jewelry in gold, silver, platinum, polished diamonds and precious color stones, and it counts Walmart, Zale, J.C. Penney, Signet, Kohl’s, Sears and ShopNBC among its clients.