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Asian Star Sees Revenues Increase
Nov 10, 2022 9:30 AM
By Joshua Freedman
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RAPAPORT... Sales and earnings rose at India’s Asian Star in the second fiscal quarter, driven by strong growth in its diamond manufacturing division.
Group revenue jumped 15% year on year to INR 13.31 billion ($163 million) — including subsidiaries — for the three months ending September 30, Asian Star reported Wednesday. Net profit increased 1% to INR 309 million ($3.8 million).
The Mumbai-based company is one of the country’s largest polished manufacturers and also has a finished-jewelry business. Sales in the diamond segment gained 18% to INR 11.87 billion ($145.1 million), while jewelry revenues were up 5% at INR 2.18 billion ($26.6 million).
Image: Asian Star jewelry. (Asian Star)
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Tags:
Asian Star, India, Joshua Freedman, Manufacturing, mumbai
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