Sunraj Diamond Posts Net Loss for 2Q

Sunraj Diamond Exports Ltd. reported a net loss of about $30,260 (INR 1.49 million) during its second fiscal-quarter that ended on September 30, 2011, as sales declined. Net profit was recorded at about $17,735 (INR 871,000) one year earlier.

Net sales in second quarter fell 8 percent year on year to $2.33 million (INR 114.27 million). The Mumbai-based company didn’t provide reason for the decline in sales. Sunraj Diamond stated that second-quarter expenditures fell 6 percent to $2.35 million (INR 115.47 million).

The company’s stock closed a tad lower at INR 17.60 per share on the Bombay Stock Exchange (BSE) on Friday.

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