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RAPAPORT... Asian Star Co. Ltd.'s revenue improved 11.4 percent year on year to $105 million (INR 6.4 billion) for the first fiscal quarter that ended on June 30. Cost of sales, including materials, depreciation and other expenses, rose 11.5 percent to $102 million (INR 6.3 billion). The company's profit jumped 8.5 percent to $2 million (INR 126.3 million). By business segment, cut and polished diamond sales rose 2 percent to $87 million (INR 5.35 billion), while jewelry sales surged 88.8 percent to $26 million (INR 1.59 billion) and sales of other products leaped 112 percent to $630,000 (INR 38.8 million). Intersegment sales, which are deducted from total revenue, increased 63.3 percent to $8.4 million (INR 513 million) Operating profit for the diamond business dropped nearly 23 percent to $2 million (INR 124 million) but improved 133 percent for jewelry to $1.1 million (INR 68.4 million).
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