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Sales at Suashish Diamonds up 4% in its fiscal Q2
Net profits dropped 59%
By: Diamond World News Service
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Nov 11 2011 2:46PM
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Reference: 6470  

DecreaseIncrease

The three months that ended September 30, 2011 delivered a 4 percent (y-o-y) increase in net sales for Mumbai based diamond and diamond jewellery manufacturer Suashish Diamonds Ltd.. Net sales in this period valued $51.4 million. Despite this, the company’s net profits dropped by a considerable 59 percent to $2.5 million, which is reportedly attributed to the lower income from investments and financial instruments which stood at $644,627 ($5.8 million in comparable quarter of 2010).

The period also saw operating profits for the company improving, as it valued $2.9 million ($697,931 in the comparable quarter of 2010). Also, total expenditure remained ‘little changed’ valuing $48.5 million.

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