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Mumbai, Aug 1

Despite the global economic slowdown, Shrenuj & Company Ltd, an integrated gem and jewellery manufacturer, has recorded 58 per cent rise in net profit at Rs 13.12 crore in the first quarter ended June 31, against Rs 8 crore clocked in the same period last year. Sales revenue was up 18 per cent to Rs 339 crore (Rs 286 crore) in corresponding period last year. Apprehensive about rising gold and diamond prices, Mr Shreyas Doshi, Managing Director, said, traditionally, the first quarter is relatively slower compared to the third and fourth quarters but from the performance this year, we believe that we can pass on the price rise to the end consumer. In the last five years, the company has created distribution network in 13 countries for diamonds and jewellery, he said.

– Our Bureau

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