Diamond sales at Shrenuj & Co. up 33% in Q3

For leading diamond and diamond jewellery manufacturing company Shrenuj & Co. Ltd., group sales stood at $180.9 million or a 37 percent increase on y-o-y basis, at the close of the quarter ending December 31, 2011. Net profits were up 21 percent to $3.8 million.

The company attributes this good performance to growth in demand and a recovery in the US markets, although the period has also passed through the volatility of prices, economic uncertainty etc.

The company’s diamond unit sales were up 33 percent to $125.4 million, studded jewellery sales rose 53 percent to $59.5 million and inter-segment sales were at $4.1 million ($1.1 million in the same quarter of 2010). Total expenditures rose 38 percent to $170.3 million (INR 8.42 billion) during the quarter.