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Challenging Diamond Market Dents Asian Star Sales
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Challenging Diamond Market Dents Asian Star Sales
Indian diamond manufacturer Asian Star saw its sales decline in the first fiscal quarter, as demand for the product weakened. Revenue on a consolidated basis — which includes subsidiaries in the US, Dubai and Hong Kong — fell 5% year on year to INR 7.29 billion ($83.3 million) for the three months that ended June 30, the company said Tuesday. The figure is also 15% lower than last quarter. However, net profit rose 11% to INR 193.4 million ($2.2 …
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