Suashish Grows 43 Percent in Q1

Leading Indian diamond and jewelry manufacturer Suashish Diamonds Ltd. announced first quarter turnover of $56.62 million, up 43 percent. This follows 8.26 percent growth reported by the company last year, accompanied by a 53.5 percent rise in profits.

The results have yet to be audited.

“With the waiving of import duties on cut and polished diamonds, the industry seems to be on a very progressive path, which brings with it a very promising profitable market,” said Suashish Managing Director Ashish Goenka.

“The brand Ishi’s has also done very well in this quarter and the company will be further investing to increase its distribution by 100 percent,” he said.

Suashish is a Diamond Trading Company (DTC) Sightholder and is one of India’s top diamond and diamond jewelry manufacturing and exporting groups.