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C. Mahendra's 1Q Sales -18%, Profit -97%
Aug 16, 2012 6:33 AM
By Dilipp S Nag
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RAPAPORT... C. Mahendra Exports Ltd., which sells its jewelry under the Ciemme brand, reported that sales fell 18 percent year on year to $70 million (INR 3.87 billion) during its first fiscal quarter that ended on June 30, 2012.
Profit slumped 97 percent to $49,874 (INR 2.8 million) as finance costs more than doubled to $7.8 million (INR 430.2 million), the Mumbai-based diamond and jewelry manufacturer reported.
Total expenditures declined 18 percent to $66.1 million (INR 3.66 billion) during the quarter, the company stated.
*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
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Tags:
C. Mahendra, Ciemme, diamond, Dilipp S Nag, India, Jewelry, Rapaport
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