Thangamayil Jewellery Ltd. reported that its financial first-quarter profit increased 42 per cent year on year to US$2.7 million from US$1.9 million a year earlier.
Growth was motivated by higher sales, which increased 61 per cent year on year to US $64.7 million in the period that ended on June 30, 2012.
The company, which owns jewellery stores in the Southern Indian city of Madurai and trades in gold, diamond and platinum jewellery, didn’t feature specific reasons for the sales increase. Total expenditures grew 61 per cent to US $59.1 million during the quarter.