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Sarin Technologies makes record revenues and net profits in Q2
Around 25% of Q2 revenues are attributed to Sarin's 'Galaxy’ product
By: Diamond World News Service
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Aug 11 2011 8:55PM
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Reference: 6240  

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Sarin Technologies Limited scored a record for itself in term of revenues and net profits generated in the second quarter of 2011 which closed on June 30, 2011. Revenue and net profit rose 9 percent and 8 percent to US$ 15.6 million and US$ 5.0 million respectively over the corresponding period last year. In comparison to its performance in the first quarter of 2011, revenue and net profit rose 27 percent and 51 percent, respectively.

The company denotes much of the improved business to be driven by the accelerating GalaxyTM related and QuazerTM II related deliveries.

While the company has recorded increase in the deliveries and usage of its Galaxy systems over time, the second quarter saw 10 Galaxy systems being delivered, many as repeat orders from existing customers. The Galaxy made up for around 25 percent of the company’s Q2 revenues.

Sarin has been expanding its reach globally, with new service centres in Mumbai and Botswana to open in the third quarter.

The company is keen on furthering its product portfolio with new product developments like the Sarin D-LightTM, Light Performance Technology (LPT) product, and the Galaxy system for polished diamonds.

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