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Asian Star's 2Q Sales +65%, Profit +70%
Nov 12, 2012 5:23 AM
By Dilipp S Nag
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RAPAPORT... Asian Star Co. Ltd. reported that group sales rose 65 percent year on year to $130.3 million (INR 7.12 billion) during the second fiscal quarter that ended on September 30, 2012. Sales were driven by growth across all its business segments. Profit soared 70 percent to $2.8 million (INR 151.6 million).
Sales at the company’s cut and polished diamond segment increased 72 percent to $118.3 million (INR 6.47 billion). The company, which retails its jewelry under the brand Shagun Jewels, reported that its jewelry business revenue grew 33 percent to $18 million (INR 984.8 million) and sales for its other segment jumped 79 percent to $1.3 million (INR 70.5 million) from a year earlier.
Total expenditures rose 66 percent to $126.1 million (INR 6.89 billion) during the period. Asian Star has manufacturing centers in Surat, Mumbai and Hosur in India for diamond processing and jewelry manufacturing.
*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:
Asian Star, diamond, Dilipp S Nag, India, Jewelry
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