Shrenuj Q3 Earnings +13%, Sales $265 Million
February 14, 13
(IDEX Online News) – Shrenuj & Company earned Rs 212.15 million ($3.9 million) on sales of Rs14.3 billion ($265.3 million) in the third quarter ending December 31, 2012. This is a 13 percent increase in profits and a 60 percent increase in sales year-on-year. 
The company reported earnings of Rs 529.36 million ($9.8 million) on sales of Rs 29.67 billion ($550.5 million) for the three quarters to date. Sales in the nine-month period are 27 percent higher year-on-year.
Commenting on the performance, company chairman Shreyas Doshi said that while the festival season in India and Christmas in overseas markets had been good in terms of revenue generation, retailers had resisted increased prices for diamond jewelry.
He noted that going forward, stable demand and less price volatility would allow the company to pass on costs to the end consumer and improve margins.