Canadian diamond mining company Dominion Diamond has reported a rise in its Q1 2014 consolidated net profit to $500.2m, compared to $11.6m in the corresponding quarter a year ago.

During the quarter, the mining firm acquired Ekati Diamond Mine in a $553.1m deal, and completed the sale of the Harry Winston Luxury Brand Segment for aggregate cash consideration of about $746m.

The company posted consolidated rough diamond sales of $108.8m for the first three-month period of fiscal 2014, including Diavik rough diamond sales of $88.9m and Ekati rough diamond sales of $19.9m.

At Diavik Diamond Mine, the company produced 1.9 million carats on a 100% basis during the first calendar quarter.

It sold nearly 0.78 million carats in the first quarter of 2014 from the mine for a total of $88.9m for an average price per carat of $114.

At Ekati Diamond Mine, the company sold about 0.01 million carats for a total of $19.9m for an average price per carat of $1,620, during the period from 10-30 April 2013.

Dominion Diamond has ownership interests in Diavik Diamond Mine and Ekati Diamond Mine, located in the Northwest Territories of Canada.