Company Asian Star Co. Ltd. reported sales growth of 80% year-on-year to $ 159 million (Rs.9.92 billion) for the third fiscal quarter ended December 31, 2013. The company's profit has more than doubled and reached $ 4.3 million (Rs. 268.5 million), Rapaport reports.
The diamond company's sales in the polished segment jumped 85% to $ 141 million. The jewelry division operating under the Shagun Jewels brand reported sales growth of 6% to $ 22 million, while sales for the other product categories increased by 68% up to $ 162,000. The
operating profit of the diamond division of the company has more than doubled to $ 4.8 million, and in the jewelry segment this figure increased by 26% to $ 1.1 million.
As a result of the first nine months of the financial year, Asian Star sales showed a 23% increase to $ 362 million, while net profit jumped 39% to $ 8.3 million