Su-Raj Diamonds and Jewellery Ltd. – a leading manufacturer and exporter of diamonds noted a good performance in its jewellery sales and a rise in its net sales during the three months ending 31 March 2012. But the period also marked a drop in its net profits and diamond sales, Diamond World reported.
In the said period, net sales were up 9 percent (on y-o-y basis) to $332.3 million, which the company attributes to the good sales in its jewellery unit. The sales at its jewellery unit rose 17 percent to $289.1 million.
The company’s diamond sales dropped 26 percent to $42.3 million and bullion sales also dipped by 83 percent to $80,918.
The company also noted that the period delivered a 64 percent fall in its net profits which valued $2.3 million, attributed to the lowered other income and increased expenses and taxes. Other income was down by 80 percent to $1.1 million and taxes rose more than three times to $664,283. Total expenses also were up by 9 percent to $327.3 million.
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