Strong Growth for Flawless Diamond in Q1 2007-08
July 24, 07
Diamond and jewelry manufacturer Flawless Diamond India Ltd reported a first quarter net profit of Rs. 45.26 million ($1.13 million), compared to Rs. 5.33 million ($132,700) last year. Total income was Rs. 1,240.99 million ($30.9 million), rising from Rs. 366.1 million ($9.1 million) in the previous first quarter.
The company launched the Aum jewelry collection during the past year and opened a number of retail stores, efforts that augmented its jewelry sales through other retail outlets.
The company recently entered into a partnership with Pallazio, a branded upmarket store run by Danabhai Jewellers, retailing higher-end jewelry and watch brands.
Pallazio was launched in 1999 in Crossroads, Mumbai’s first modern mall and has recently moved to a new location in Prabhadevi, Mumbai.