Suashish Diamond's 2Q Sales +9%, Profit Surges

By Deena Taylor/ RAPAPORT Updated at 2013-11-21 20:08:51 +0000


Suashish Diamonds Ltd. reported that its standalone sales rose 9 percent year on year to $28.5 million (INR 1.8 billion) during the second quarter that ended on September 30. Expenses grew 11 percent to $30.2 million (INR 1.9 billion) during the quarter. The diamond and jewelry manufacturer reported that operating income from ''other'' segments declined 23 percent to $2.3 million (INR 141.8 million).

The company's profit more than doubled to $2.4 million (INR 148.9 million).

During the first six months of the year, sales decreased 24 percent to $52.7 million (INR 3.3 billion), while profit grew 28 percent to $4.6 million (INR 286.6 million).

Suashish Diamonds manufactures diamonds from 0.005 points to 2 carats of all qualities and is a De Beers sightholder.