Classic Diamonds saw sales dip by 6% in Q3

Net sales for Classic Diamonds (India) dipped by 6 percent to $35.9 million in the third fiscal quarter ending December 31, 2009, reports say. The company cut its expenses by 8 percent to $34 million in the three months. Net profit valued at $692,215 in the said period, while in the same three months last year the company had seen a net loss of $643,378.

Sales in the company’s diamond segment reduced by 8 percent to $22 million, while profits before interest and tax increased 12 percent to $393,854. Jewellery segment sales for the company dipped 2 percent to $14 million, with profits before interest and tax more than doubled to $1.6 million (INR 76.4 million).

The company’s inter-segment sales amounted to $99,468 in the said three months.