RAPAPORT... Profit at Asian Star, a Mumbai-based diamond
manufacturer, fell during the past fiscal year even as sales increased, the
company reported.
Net profit slid 11% to $10.2 million (INR 660.5 million) in
the 12 months that ended March 31, according a filing last week that included
the group’s subsidiaries. While revenue increased 6% to $541.8 million (INR
34.94 billion), expenses rose as well, growing 14% to $405.2 million (INR 26.13 billion).
By product, diamond sales advanced 4.5% to $488.2 million (INR 31.48
billion), and revenue from jewelry jumped 21% to $79.8 million (INR 5.15 billion).
In the January-to-March period, group sales dropped 5% year
on year to $163.4 million (INR 10.53 billion), while profit dived 38% to $2.3
million (INR 146.3 million). |
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