Rapaport News



Rapaport Broadcast
Rapaport’s ‘State of the Diamond Industry’ Address
June 08 2020

Advanced search
Latest Articles
Rough Markets
Polished Markets

Sales Rise at India’s Asian Star

Manufacturer notes improvement in jewelry exports and strong performance at Dubai trading subsidiary.
Dec 4, 2018 9:10 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Sales and profit grew at Indian diamond manufacturer Asian Star in the second fiscal quarter amid improved jewelry exports and a strong performance at its Dubai trading unit.

The Mumbai-based group saw strong margins in its jewelry division, especially the export business, Pranav Kapadia, Asian Star’s chief manager for accounts and tax, told Rapaport News. It also enjoyed a robust quarter at its Dubai subsidiary that trades mainly in rough diamonds, Kapadia added. 

Group revenue rose 16% year on year to INR 10.96 billion ($155.7 million) in the three months ending September 30. Net profit jumped 97% to INR 370.3 million ($5.3 million).

“Now we’re focusing more on jewelry operations, and we’re estimating good revenue from [that segment],” Kapadia said, adding that it offered better profitability compared with diamond cutting.

Diamond sales remain Asian Star’s largest division, with revenue up 14% to INR 9.43 billion ($133.9 million) for the quarter. Jewelry proceeds also improved 14% to INR 2.09 billion ($29.7 million). Total revenue is less than the sum of those two sales figures, because certain transactions span both segments.

Image: Asian Star jewelry. (Asian Star)
Tags: Asian Star, Dubai, exports, India, Jewelry, Pranav Kapadia, Rapaport News
Similar Articles
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