Asian Star, a Diamond Trading Company Sightholder™ and one of the leading diamantaires of the world, has posted excellent results for the year ending March 31, 2008.

Asian Star’s PAT climbed 51.70% YoY to Rs 4112.71 lacs from Rs 2711.17 lacs. The company’s Net Sales for FY08 stands at Rs 147,383.35 lacs, a hop of 22.9% as against Rs 119,914.96 lacs last year. The fully diluted Earnings Per Share (EPS) for the year ending March 31, 2008 stands at Rs 37.71, up from Rs 24.60 last year.

The company posted a PAT of Rs 869.10 lacs for the quarter ended March 31, 2008, a hop of 39.07% over Rs 624.90 lacs for the same quarter last fiscal. Net Sales during the same period rose 19.58% to Rs 40,758.61 lacs, up from Rs 34,084.63 lacs in the last fiscal.

Announcing the results, Mr Vipul Shah, CEO and Managing Director of Asian Star said, “The Company has of late intensified its operations in the diamond jewellery segment which ensured improved profitability.”

The Directors recommended a dividend of Re. 0.30 on 2,52,00,000 Redeemable Cumulative Preference Shares of Rs 10 each and Rs 2 per share on 1,06,71,200 equity shares of Rs 10 each.

In May, Asian Star launched its first jewellery store ‘Shagun Jewels’ at Somajiguda, Hyderabad, and plans to open more stores in select cities across India.

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About Asian Star

Set up as a partnership firm in 1971, Asian Star became a public limited company in 1995. Asian Star’s major business activity is Diamond Cutting & Polishing and Jewellery Manufacturing, with a turnover of Rs 1473.83 crores in March 2008. Asian Star exports its diamonds and jewellery to major diamond markets like the USA, UAE, Hong Kong, China, Singapore, Japan, UK, Belgium, Israel, Germany and Switzerland. It has high-tech manufacturing facilities in Surat and Mumbai in India. Asian Star supplies to leading retail chains, in the Indian & International markets.