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Asian Star Profit Declines While Sales Grow

Feb 14, 2017 11:39 AM   By Rapaport News
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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
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