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India’s Tara Jewels Profit Slumps as Sales Drop 6%

Nov 12, 2015 8:41 AM   By Rapaport News
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RAPAPORT... India’s Tara Jewels Ltd. reported first-half net profit slumped as sales, excluding bullion, fell 6 percent from a year ago.

Revenue declined to $99.4 million (INR 6.6 billion) in the six months that ended September 30, the Mumbai-based jewelry designer and manufacturer said in a statement. Net profit dropped 16 percent to $2.2 million.

Tara plans to expand retail presence in India through franchise, shop-in-shop and e-sales in the medium to long term, it said in the statement. It has 30 stores in 27 cities and also a presence on Amazon and Snapdeal.

Exports, which account for the bulk of the company’s sales, were valued at $87.3 million, or 88 percent of overall revenue. Retail sales within India were $12.1 million, representing 12 percent of total sales.
Tags: design, India, Manufacturing, Rapaport News, Tara Jewels
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