Suashish Quarterly Profits Up 35%

Indian DTC Sightholder and diamond jewelry manufacturer Suashish Diamonds realized a net profit total of Rs. 52.7 million ($1.30 million) for the three months ended March 31, a 34.61 percent increase over 2007. Total income for the quarter was Rs. 2.49 billion ($61.20 million), an 8 percent year-over-year increase.

Suashish notes that, in order to recalibrate its financial year statements with the year beginning April 1 and ending March 31, it has extended the financial year-end by three months, from December 31 to March 31. 

For the fifteen-month period ended March 31, the company recorded a net profit of Rs. 820.5 million ($20.18 million), from a total period income of Rs. 12.23 billion ($300.85 million). Total expenditure for the extended year was Rs. 11.55 billion ($284.56 million).

Suashish Diamonds Managing Director Ashish Goenka said, “Despite of changes in structural and pricing strategies in the industry, Suashish Diamonds Ltd. will continue to perform better by focusing on operational efficiency.”