White Diamond’s 2Q Profit +25%

White Diamond Industries Ltd. reported net profit rose about 25 percent year on year to $33,969 (INR 1.69 million) during its second fiscal-quarter that ended on September 30, 2011. The improvement was mainly helped by “other” income of about $44,700 (INR 2.23 million) since the Mumbai-based company recorded an operational loss of $10,700 (INR 533,000). Operating profits were about $24,372 (INR 1.21 million) one year ago. Second-quarter expenditures surged nearly 19 percent to $425,918 (INR 21.22 million).

Sales grew 8 percent year on year to $415,217 (INR 20.68 million) for White Diamond, whose operations include manufacturing and trading of rough and cut and polished diamonds. White Diamond didn’t state specifics on the sales breakdown. The company’s stock fell 1.8 percent on the Bombay Stock Exchange (BSE) to INR 30.50 per share on Friday.

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