Suashish Diamonds Ltd. announced that its sales in the fourth fiscal quarter ended March 31, 2014, fell 25% year-on-year to $ 31 million (1.83 billion rupees), Rapaport reports.
The profit of the company producing diamonds and jewelry jumped by 67% to $ 2.5 million (148.5 million rupees). Costs for the reporting period decreased by 14% to $ 27.5 million (1.62 billion rupees).
As a result of the full fiscal year, sales of Suashish, the De Beers sightholder, showed a 26% drop to $ 120.8 million (Rs 7.13 billion), while profits increased 11% to $ 11.7 million (Rs 692 million) . The company's costs for the fiscal year decreased by 26% to $ 113.1 million (6.67 billion rupees).