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Asian Star's 4Q Sales +21%, Profit -4%

FY sales grow 34 percent to $435 million,
Jun 3, 2013 6:29 AM   By Deena Taylor
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RAPAPORT... Asian Star Co. Ltd. reported that group sales rose 21 percent year on year to $109.7 million (INR 6.21 billion) during the fourth fiscal quarter that ended on March 31, 2013. Profit fell 4 percent to $1.9 million (INR 105.8 million).

Sales at the company’s cut and polished diamond segment fell 0.6 percent to $2.6 million (INR 149.9 million). The company, which retails its jewelry under the brand Shagun Jewels, reported that sales at its jewelry business grew 78 percent to $1.2 million (INR 66.4 million), while sales from its other segments resulted in a loss of $114,765 (INR 6.5 million) compared to a loss of $111,460 (INR 6.3 million) one year ago.

For the fiscal year that ended on March 31, 2013 the company reported that sales grew 34 percent to $435.1 million (INR 24.62 billion), while net profit increased 15 percent to $8.4 million (INR 477.7 million).

During the year, sales at Asian Star's cut and polished diamond segment grew 8 percent to $10.6 million  (INR 601.3 million), while sales at the company's jewelry segment rose 68 percent to $3.3 million (INR 188.3 million). Sales at the company's other segments grew to $721,640 (INR 40.8 million) compared with $279,400 (INR 15.8 million) one year ago.
Tags: Asian Star, Deena Taylor, diamond
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