Diamond sales at Shrenuj & Co. up 20% in Q2

In the three months that ended 30 September 2011, Shrenuj & Co. generated a 27 percent (y-o-y) increase in group net sales, which valued $155.6 million. The company clocked net profits worth $3.9 million, an increase of 29 percent on y-o-y basis.

The company attributes this healthy performance to the ‘good diamond and studded jewelry sales’ for its products in this period. Its diamond unit recorded sales worth $118.8 million, an increase of 20 percent. Studded jewelry sales rose 76 percent to $43.2 million and inter-segment revenue was up to $6.4 million ($1.6 million in Q2 2010).

Coupled with the increase in sales and net profits, the company’s total expenditure also rose, by 27 percent to $146.1 million.