Tara Jewels Ltd Posts 15% Rise in Revenue in Fiscal Q1

(IDEX Online News) – Indian jewelry retailer Tara Jewels Ltd posted a 15-percent rise on the year in revenue to more than $54 million for the first fiscal quarter that ended on June 30.

The retailer also reported that net income was also up sharply – rising 32 percent to almost $2 million.

Tara said it aims to open 13 new stores in India this year. That would raise the number of its outlets to 50 in 37 cities.

Tara Jewels Chairman Rajeev Sheth said its foreign trade was strong due to orders from large retailers.