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Our Bureau

Mumbai , July 25

Su-raj Diamonds and Jewellery has reported a 22.47-per-cent increase in net profit for the first quarter ended June 30 to Rs 9.21 crore against Rs 7.52 crore in the corresponding quarter last year.

Turnover rose by 15.67 per cent to Rs 310 crore from Rs 268 crore in the same quarter last year. The company recently opened its handcrafted jewellery division citing good potential in customised jewellery segment. The board said that all activities would now be consolidated under the banner of Su-raj diamonds and jewellery.

"In order to tap opportunities in the international markets, we now have set up six wholly owned subsidiaries in various important diamond markets that fulfil overseas marketing commitments. We are also in the process of launching our corporate campaign that will further establish our foothold in international jewellery business," said the company in a press release quoting its Chairman and Managing Director, Mr Jatin Mehta.

Shares of the company closed at Rs 45.25 on the BSE, up 4.02 per cent.

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