Suashish Diamonds net profit triples

Mumbai, Aug 2 (UNI) Suashish Diamonds has posted a net profit of Rs 26.33 crore for the quarter ended June 30, compared to Rs 8.37 crore recorded during the corresponding period last year.

During the quarter, the company achieved a turnover of Rs 182.56 crore. The company also witnessed a topline growth in excess of 10 per cent from Rs 374.08 crore to Rs 412.94 crore.

Suashish Diamonds managing director Ashish Goenka, in a statement here today, the decision of going downstream with higher focus on jewellery sales through retail chains has paid rich dividends in the form of increased customer loyalty and substantially better-margins.

Suashish is a vendor partner to five out of the top ten jewellery retailers in the world and is emerging as a leader in jewellery exports from India, the statement said.

UNI