Mumbai: Asian Star, a Mumbai-based diamond manufacturer, reported profit fell 5 percent in the final three months of last year even as revenue rose.
Total comprehensive income after tax dropped to $2.2 million (INR 145.5 million) in the third fiscal quarter that ended December 31, the company said. Sales jumped 7 percent to $111.7 million.
Revenue from the diamond division grew 6.5 percent to $96.5 million, while profit before interest and tax slid 14 percent to $2.7 million. Jewelry revenue grew 21 percent to $23.3 million.
During the nine months from April to December 2016, sales jumped 12 percent to $365.3 million, while profit fell 3 percent to $7.7 million.
