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Asian Star 1Q Revenue +32%, Profit +56%
Aug 13, 2014 6:34 AM
By Ronen Shnidman
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RAPAPORT... Asian Star Company Limited reported that its revenue grew 32 percent year on year to $139.4 million (INR 8.54 billion) for the quarter that ended on June 30, 2014.
Revenue growth at the India-based diamond and diamond jewelry manufacturer was driven by increased diamond sales, which grew 45 percent to $126.8 million (INR 7.77 billion). In contrast, sales from Asian Star’s jewelry division fell 27 percent to $19 million (INR 1.17 billion).
The group’s total expenses rose 32 percent to $134.4 million (INR 8.23 billion) during the quarter.
However, thanks to increased diamond sales outpacing higher costs, Asian Star’s profit rose 56 percent to $3.2 million (INR 196.7 million). This translated into diluted earnings of 20 cents (INR 12.29) per share.
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Tags:
Asian Star, diamond, India, Jewelry, margins, Ronen Shnidman
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