Diamond sales at Goenka Diamonds up 57%

Leading gem and jewellery company Goenka Diamond and Jewels Ltd., recorded 24% (on y-o-y basis) increase in its group revenues to $22 million, in the first fiscal quarter ending June 30, 2012. The company’s diamond unit recorded a 57 percent increase in revenues to $19.3 million. The jewellery segment of the company saw a dip in sales, by 51 percent (on y-o-y basis) to $2.7 million.

Profits at the company rose 80 percent to $1.6 million, with contribution of other income, which stood at $2 million (from $488,363 in the same quarter last year).

Total expenses were up 30 percent to $21.5 million.