Su-Raj Diamonds and Jewellery Posts Jump in Net Profit

India's Su-Raj Diamonds and Jewellery, a major player in the Indian industry, reports a 14 percent rise in net profit to 82.2 million rupee ($18 million). Sales growth was boosted by revenues from the company's jewelry unit, which jumped 114 percent to 1,370.1 million rupee ($32.2 million).

Total revenues were 2,671 million rupee ($61.4 million), a 34 percent jump on the same quarter a year earlier.

"Our focus on jewelry exports are paying off, we have already touched 4,820 million rupee ($110.8 million) in jewelry exports during full year 2005 and plan to maintain a healthy growth rate in the coming years as we penetrate globally in the jewelry segment," said Chairman and Managing Director Jatin R. Mehta.

In related news, Su-Raj‘s board of directors has recommended a 12 percent dividend for the financial year ended March 31.

Shares of Su-Raj Diamonds were last traded on BSE at 43.40 rupee, down 4.19 percent.