Sale of cut and polished diamonds at Asian Star fell by

During the three months ending June 30, 2009, net sales for Asian Star fell by 11 percent amounting to $63.7 million. The company has a portfolio of diamond manufacturing and is headquartered in Mumbai.

Sales of cut and polished diamonds decreased by 10 percent to $61.8 million, while profits, before tax and interest, reduced by 2 percent to $2.8 million. Sale of jewellery sales fell by 38 percent to $2.9 million, and intersegment sales dropped by 45 percent to $909,775.

The Group’s net profits saw a 38 percent drop to $1.5 million, although the company did achieve reducing its expenses by 10 percent to $60.9 million.