ALROSA’s Sales for November 2016, Though Higher Y-o-Y, Impacted by Demonetisation in India

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ALROSA

PJSC ALROSA’s total sales – of both rough and polished diamonds — for November 2016 amounted to US$ 255.2 million; and were 63% higher compared to the same period last year.

Within this, ALROSA Group’s rough diamond sales for the period under review touched US$ 245.6 million; while polished diamond sales for the same period stood at US$ 9.6 million.

“The market activity at year-end was affected by India’s currency reform in November,” remarked Yury Okoemov, ALROSA Vice President. “One of its effects was a temporary decline in the activity of India’s small and middle-size diamond cutting companies, which also affected the low-end small-size rough diamond segment. Activity in other market segments remains high.”

News Source : gjepc.org

Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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