Flawless Diamond Drops In Second Quarter Sales -1 Percent
Flawless Diamond reported...Flawless Diamond, a Mumbai-based diamond cutter, reported that net sales fell 1 percent to $33.3 million (INR 1.5 billion) in the second fiscal quarter ending September 30, 2010. Expenses rose 2 percent to $32.7 million (INR 1.47 billion), and net profits dropped 92 percent to $90,000 (INR 4.2 million).
For the first fiscal half, Flawless reported sales increased 2 percent to $63.8 million (INR 2.87 billion) while expenses grew 4 percent to $62.4 million (INR 2.81 billion). Net profits fell 76 percent to $560,000 (INR 25.2 million) during the six months.
By: Avi Krawitz
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