News

Advanced Search

Asian Star Profit Declines While Sales Grow

Feb 14, 2017 11:39 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Asian Star, a Mumbai-based diamond manufacturer, reported profit fell 5 percent in the final three months of last year even as revenue rose.

Total comprehensive income after tax dropped to $2.2 million (INR 145.5 million) in the third fiscal quarter that ended December 31, the company said. Sales jumped 7 percent to $111.7 million.

Revenue from the diamond division grew 6.5 percent to $96.5 million, while profit before interest and tax slid 14 percent to $2.7 million. Jewelry revenue grew 21 percent to $23.3 million.

During the nine months from April to December 2016, sales jumped 12 percent to $365.3 million, while profit fell 3 percent to $7.7 million.
Tags: Asian Star, diamond, Diamond manufacturing, India, jewelry manufacturing, Manufacturing, mumbai, Rapaport News
Similar Articles
De Grisogono 150High-End Slump Forces Layoffs at De Grisogono
Apr 11, 2018
Swiss-based luxury jeweler De Grisogono plans to cut up to 41 positions after a challenging high-end market resulted in poor sales.
Stuller 150Stuller Buys Welding and Engraving Firm
Jan 09, 2018
Stuller has acquired laser-welder and engraving company B&D Sales Corporation, the Louisiana-based jewelry manufacturer
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 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.