Flawless Diamond has announced its financial results for the fourth quarter ending March 31, 2010. Its net sales spurred by 15 percent to $45.5 million, and expenses rose proportionately by 15 percent to $44.4 million, reports say. Net profits were up by 312 percent to $491,152, reports add.

The company enjoyed a 5 percent increase in its sales to $136.8 million, during the full fiscal year 2009-10. In the said 12 months, expenses rose by 5 percent to $131 million. Annual profits increased by 12 percent to $3.36 million. The company is a Mumbai-based diamond and jewellery manufacturer.