Classic Diamonds (India) has recorded a 28 percent drop in the three months sales ending June 30, 2009, to $25.4 million. Profits plunged 45 percent to $640,205 (INR 30.5 million) in the said period. The diamond and jewellery manufacturing company achieved a 20 percent decrease in its expenses to $24.4 million.

The diamond division of the company noted a 40 percent decrease in sales to $23.2 million, leading to the unit’s profits before interest and taxes increasing by 23 percent to $2.3 million. Sales of the jewellery division decreased by 60 percent to $2.3 million, and profits went down by 32 percent to $487,638.