GJ Town India

Alrosa sales exceeded production by 35% in Q1 Alrosa, the world’s leader in diamond mining, announces its IFRS financial results for Q1 2019 & says, revenue increased by 15% q-o-q to RUB 70 bn, mainly driven by strong sales volumes (up 18% q-o-q). The sales exceeded production by 35% due to increased sales of smaller-size diamond from inventories as polishers’ restocked early in 2019. Y-o-y revenue declined by 27% owing to a higher share of small-size rough gem diamonds in sales and lower sales in carats (down 21% y-o-y). Ebitda grew by 16% q-o-q to RUB 31 bn, supported by top line growth. On a y-o-y basis, Ebitda decreased by 34% as revenue declined. • Ebitda margin remained flat q-o-q at 44% (down 5 pp y-o-y). Free cash flow went up by 81% q-o-q to RUB 26 bn due to a 40% higher operating cash flow q-o-q and a reduction in capex (down 45% q-o-q). On a y-o-y basis, free cash flow declined by 37%, mainly due to a 35% y-o-y decrease in operating cash flow, despite ...

Alrosa diamond sales totalled $1,322.9mn during January–April 2019    Recently Alrosa , the world’s largest diamond miner, announces diamond sales for April and four months of 2019. April sales of rough and polished diamonds reached $318.7 million. Rough diamond sales amounted to $315.8 million, while those for polished diamonds stood at $2.9 million. January–April 2019 rough and polished diamond sales totalled $1,322.9 million. During the four months of 2019, the Company sold rough and polished diamonds for $1,303.8 million and $19.2 million, respectively. “In the first months of 2019, the global diamond market saw a somewhat weaker demand from cutters and polishers due to both diamond stock normalization as mid-streamers in India continue to experience difficulties with access to affordable financing, and inherent cyclicality of the market. The Company maintains a moderately positive outlook for the foreseeable future, expecting the market situatio...