Business
Sales results for Q3 FY 2026 and Sale of 41.8...
Petra Diamonds Limited reported Q3 FY 2026 sales of 781,797 carats, generating US$68 million in revenue, an increase from US$49 million in Q2 FY 2026, though the average price per carat decreased by 11% to US$87 due to weaker prices in smaller diamond segments. The company also announced an agreement for the sale of a 41.82 carat Type IIb blue diamond, with initial consideration included in Q3 revenue and a retained economic interest in future polished sales. Finsch mine experienced a significant 22% reduction in average prices quarter-on-quarter, leading to a revision of its FY 2026 pricing assumption to US$60-US$70 per carat. Disclaimer*
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n\n \n \n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 01 April 2026\n \n \n \n \n \n \n LSE: PDL\n \n \n \n \n \n \n \n \n \n \n \n Petra Diamonds Limited\n \n \n \n (\"Petra\", \"the Company\" or \"the Group\")\n \n \n \n \n \n \n \n \n Sales results for Q3 FY 2026\n \n \n \n \n Sale of 41.82 carat Type IIb blue diamond\n \n \n \n \n \n \n \n \n \n Petra Diamonds Limited today provides an update on its Q3 FY 2026 sales results and the sale of the 41.82 carat Type IIb blue diamond, announced on 13 January 2026.\n \n \n \n \n \n During Q3 FY 2026, Petra sold 781,797 carats which resulted in higher revenue at US$68 million, compared with US$49 million in Q2 FY 2026. The average Group price achieved in Q3 FY 2026 was US$87 per carat, 11% lower than the US$98 per carat achieved in Q2 FY 2026. This pricing was affected by a 15% reduction in like-for-like\n 1\n prices across all product sizes, partly offset by an improved product mix that contributed to an increase of 4%. The smaller size categories have continued to see weaker prices, offset by improving demand in the coarser higher valued diamonds.\n \n \n \n \n \n We are also pleased to announce that following a competitive tender process, an agreement has been entered into for the sale of the 41.82 carat Type IIb blue diamond of exceptional colour and clarity that was recovered at Cullinan Mine in December 2025. \n \n \n \n \n \n Under the terms of the agreement, the Company receives an initial consideration linked to the value of the rough diamond and retains a significant economic interest in the profit realised from the sale of the polished stone, which could take c. 12 months to materialise. This, we believe, provides Petra the best chance of maximising value from this stone. The initial consideration has been booked as revenue for Q3 FY 2026 and is included in the total revenue numbers and average realised price for this quarter. Further updates will be made as and when appropriate. \n \n \n \n \n \n Certain commercial terms of the transaction, including the initial consideration and the identity of the counterparty, remain confidential at this stage, as per the term...