Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Asian Star Profit Slides on Higher Costs

Jewelry revenue jumps 21%, outperforming diamond division.
May 29, 2017 7:28 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

Profit at Asian Star, a Mumbai-based diamond manufacturer, fell during the past fiscal year even as sales increased, the company reported.

Net profit slid 11% to $10.2 million (INR 660.5 million) in the 12 months that ended March 31, according a filing last week that included the group’s subsidiaries. While revenue increased 6% to $541.8 million (INR 34.94 billion), expenses rose as well, growing 14% to $405.2 million (INR 26.13 billion).

By product, diamond sales advanced 4.5% to $488.2 million (INR 31.48 billion), and revenue from jewelry jumped 21% to $79.8 million (INR 5.15 billion). 

In the January-to-March period, group sales dropped 5% year on year to $163.4 million (INR 10.53 billion), while profit dived 38% to $2.3 million (INR 146.3 million).
Tags: Asian Star, India, Manufacturing, Rapaport News
Similar Articles
De Beers Industry Services grading SuratIndia Rushes to Meet US Holiday Demand
Oct 22, 2020
Indian diamond manufacturers are planning a curtailed Diwali break as they...
India’s Asian Star Sees Sales Plunge
HB Antwerp Aims to Shake Up Large-Stone Market
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us