Diamond sales for Asian Star decreases by 6%

During the fiscal year ending March 31, 2009, sales at Asian Star decreased by 1 percent and amounted to $306 million. Headquartered in Mumbai, the company manufactures diamond and jewellery. Within its luxury product portfolio, sales of diamonds dipped by 6 percent to $268.3 million, but jewellery sales increased by 33 percent to $42.7 million.

Net profit increased by 9 percent to $9.7 million and expenses fell by 2 percent to $287.8 million, reports say. Net profit before tax and interest for the diamond business was lower by10 percent to $13 million, but profits for the jewellery segment increased by 90 percent to $5.8 million.