SHRENUJ starts NY operations, announces Q2 results

New Delhi, Oct 10 (UNI) Shrenuj&Co's New York subsidiary, that will cater to the entire North American market, today commenced its operations in diamond and jewellery distribution.

The NY subsidiary compliments its jewellery distribution office in Los Angeles.

At its board meeting held today, the company took on record its second quarter results for FY07.

According to the results, the net profit jumped 28.75 per cent from Rs 3.20 crore to Rs 4.12 crore.

For the half year ended on September 30, the net profit registered a 61.05 per cent growth at Rs 8.60 crore as against Rs 5.34 crore during the same period last year.

On a consolidated basis, the total income of the group for the half year ending on September 30 aggregated Rs 434.44 crore and the net profit amounted to Rs 13.14 crore.

The company expects to generate additional revenue from its upcoming jewellery-manufacturing unit in SEEPZ.

''We are now a fully integrated company, spanning operations from diamond manufacturing, through jewellery manufacturing to retailing. With a global distribution now in place, we are well geared to drive growth in terms of revenue as well as operating margins, in line with our aggressive internal targets,'' MD Shreyas Doshi said.

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