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Asian Star Revenue Lifted by Steady Diamond Sales

Sep 20, 2016 11:13 AM   By Rapaport News
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RAPAPORT... Asian Star’s revenue increased in the first fiscal quarter, the Mumbai-based diamond manufacturer reported. Profit, however, declined.

Total sales on a consolidated basis grew 2.7 percent to $127.6 million (INR 8.55 billion) in the three months that ended June 30, the De Beers sightholder said in an announcement to the Bombay Stock Exchange. Net profit fell 3.9 percent to $2.9 million (INR 191.5 million).

Revenue from the company’s diamond segment advanced 4.1 percent to $118.1 million (INR 7.91 billion), outweighing a 12 percent drop in jewelry revenue to $13.4 million (INR 897.3 million).

The latest data follow fiscal full-year results to March 31 that also showed lower profit despite higher sales.
Tags: Asian Star, India, manufacturer, manufacturers, Manufacturing, mumbai, Rapaport News
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