Suashish Diamonds’ sales dip 5% in December quarter

Suashish Diamonds Limited, a leading manufacturer of diamond jewellery, has achieved sales worth $66 million in the quarter ending December 31, 2011, experiencing a 5 percent dip over sales in the same quarter of 2009. The company was able to shrink its costs by 10 percent to $63 million.

Although in the said quarter it faced a 39 percent drop in net profit which valued $2.3 million, it saw a 20 percent increase in the net profits to at the end of first nine months of the fiscal year. At the end of the three quarters, the company’s sales dipped by 13 percent to $175 million.