Jewellery sales at Su-raj Diamonds up 45% in December quarter

Group sales for Su-raj Diamonds & Jewellery Limited, a leading jewellery manufacturing company, increased 34 percent to $216.1 million on y-o-y basis, for the third fiscal quarter ending December 31, 2010. The period also saw a 45 percent thrust in its jewellery sales amounting to $176.2 million.

Diamond sales also increase, even though by a marginal 1 percent to value $40.1 million, and this division’s earnings before interest and taxation (EBIT) was up 4 percent to $1.2 million. The jewellery unit recorded EBIT of $7 million, indicating a 60 percent rise over the same in the third fiscal quarter of 2009. The company’s profits rose almost twice to $6.6 million, while in the nine month period ending December 31, 2010, it was up 97 percent to $17.4 million. The sales in this period rose 25 percent to $472.6 million.