Sarin Technologies, the manufacturer of precision technology products for the planning, processing, evaluation and measurement of diamonds and gems, says net profit for the quarter ended 31 March 2010 hit (1QFY2010) hit US$4.4 million ($6.1 million) compared to the net loss of US$2.5 million in 1QFY2009 and in line with the net profit reported in 4QFY2009.

Compared to the depressed level in Q1 2009, revenue rose 1,178% and the increase was broad-based across all geographical segments. In particular, revenue from India and Africa surged 1,429% and 2,347% to US$11.0 million and US$0.9 million, respectively. On a sequential basis, the revenue growth was a healthy 31% compared to US$10.4 million in Q4 2009.

Sarin says the recovery of the diamond industry continues to gain momentum, with the Asian markets, particularly China and India, acting as the driving force. Higher levels of manufacturing activities are evident across all main manufacturing centres, including Russia.

Hence, the manufacturer  intends to leverage on the Galaxy 1000 technology for the expansion of market share in all related product lines, as well as in all markets, while increasing overall revenues and profits.