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Asian Star Sees Revenue and Profit Soar

Earnings for Indian manufacturer up 65% in past fiscal year.
May 30, 2018 9:22 AM   By Rapaport News
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RAPAPORT... Revenue and profit grew sharply in the past fiscal year at Asian Star, a Mumbai-based diamond manufacturer, the company reported.

Revenue increased 12% to $580.2 million (INR 39.13 billion) for the 12 months that ended March 31, including at its subsidiaries, the cutting-and-polishing firm said last week. Net profit soared 65% to $16.2 million (INR 1.09 billion).

Diamond sales rose 11% to $519.7 million (INR 35.1 billion), while revenue from jewelry climbed 8% to $82.3 million (INR 5.55 billion).

In the fourth fiscal quarter, group sales dropped 17% year on year to $130.7 million (INR 8.82 billion), while profit spiked 82% to $4 million (INR 270.2 million).
Tags: Asian Star, diamond manufacturer, mumbai, Rapaport News
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