Advanced Search

Goldiam's 4Q Sales -24%, Profit -38%

May 30, 2012 2:32 AM   By Dilipp S Nag
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Goldiam International Ltd. reported that group net sales fell 24 percent year on year to $8.2 million (INR 453.4 million) during its fourth fiscal-quarter that ended on March 31, 2012, due in large part to weak jewelry sales.  Net profits declined 38 percent to $288,085 (INR 15.9 million), partly due to higher finance costs and tax expenses.

Jewelry business sales fell 42 percent to $6.5 million (INR 357.5 million), while the company's investments segment grew to $443,048 (INR 24.5 million) from $149,195 (INR 8.3 million) a year earlier.

Total expenses declined 29 percent to $7.4 million (INR 410.6 million) during the quarter.

For the fiscal year, Goldiam’s net profit fell 18 percent year on year to $2.8 million (INR 152.3 million), while net sales increased 3 percent to $44.3 million (INR 2.45 billion).

The Mumbai-based company, whose product line includes 7,000 products such as rings, earrings, pendants, bracelets, bangles and necklace designs, exports 70 percent of its annual production to the U.S.

*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
Tags: Dilipp S Nag, Goldiam, Goldiam International, India, Jewelry, Rapaport
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.