Renaissance Jewelery Ltd. reported a sharp increase in revenues by 41.9% in the year to $ 58.3 million (3.63 billion rupees) for the third fiscal quarter ended December 31, 2013. Costs of the jewelry producer for the reporting quarter jumped by 37.9% to $ 55.1 million (3.42 billion rupees), and net profit rose to $ 2.4 million (153 million rupees) compared to $ 350,000 (23 million rupees) for the same period last year, reports Rapaport.
The financial results of Renaissance Jewelery for the first three quarters of the current fiscal year likewise demonstrate a significant increase in key indicators: revenues jumped 40% to $ 125 million (7.77 billion rupees), costs rose 40% to $ 119 million (Rs 7.41 billion) , and net profit rose by 87% to $ 4.1 million (Rs 253 million).
Renaissance Jewelery specializes in the manufacture of jewelry from gold, silver and platinum with diamonds and colored gemstones. Among the company's clients are such large retail chains as Walmart, Zale, JC Penney, Signet, Kohl's, Sears and ShopNBC.