Shrenuj & Co achieved 36% increase in net sales in Q3

Shrenuj & Co noted a 36 percent increase in its net sales amounting to $122.4 million, in the third fiscal quarter ending December 31, 2009. Expenses increased by 36 percent to $112.3 million and net profits by 68 percent to $3 million. Sales of diamonds increased 44 percent to $84.5 million and profits before interest and tax from the diamond unit rose 86 percent to $7.1 million. The company’s sale of studded jewellery recorded 21 percent increase to $36 million, and profits before interest and tax in the studded jewellery segment dipped 11 percent to $2 million. The inter-segment sales increased to $177,768, from zero a year earlier.

In the first nine months of the year, net sales rose 17 percent to $276.4 million and expenses by 16 percent to $254.7 million. In the said period, net profits increased by 31 percent to $7.7 million. Diamond segment sales increased 31 percent to $192.5 million in the said none months; profits before interest and tax in this segment increased 33 percent to $19.6 million. The studded jewellery segment sales dipped 3 percent to $85.6 million and profits before interest and tax increased 69 percent to $4.1 million (INR 191.5 million).