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Asian Star's 3Q Profit +26%

Feb 10, 2015 2:08 PM   By Jeff Miller
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RAPAPORT... Asian Star reported that revenue (net of excise duty) fell 7.5 percent year on year to $79.4 million (INR 4.944 billion) in the third fiscal quarter that ended on December 31. Company expenses were reduced 7.2 percent to $77 million (INR 4.791 billion). Profit soared 26.4 percent to $1.9 million (INR 117.8 million).

During the quarter, diamond revenue fell 3.5 percent to $70.4 million (INR 4.378 billion), while jewelry sales dropped 8 percent to $14.9 million (INR 929.4 million). Revenue from other products decreased 20 percent to $85,670 (INR 5.3 million). Intersegment revenue, which is deducted from total sales, jumped 71.1 percent to $5.9 million (INR 369.1 million).

Asian Star reported that sales dropped 26.6 percent year on year to $270 million (INR 16.8 billion) for the first three quarters of the fiscal year. Profit fell 21.7 percent to $5.1 million (INR 318.8 million).


Tags: Asian Star, diamonds, India, Jeff Miller, Jewelry, profit, sales
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