Asian Star Sees Revenues Increase
Sales and earnings rose at India’s Asian Star in the second fiscal quarter, driven by strong growth in its diamond manufacturing division.
Group revenue jumped 15% year on year to INR 13.31 billion ($163 million) — including subsidiaries — for the three months ending September 30, Asian Star reported Wednesday. Net profit increased 1% to INR 309 million ($3.8 million).
The Mumbai-based company is one of the country’s largest polished manufacturers and also has a finished-jewelry business. Sales in the diamond segment gained 18% to INR 11.87 billion ($145.1 million), while jewelry revenues were up 5% at INR 2.18 billion ($26.6 million).
Image: Asian Star jewelry. (GJEPC)