Alrosa, Russia's state-owned diamond producer, has reported rough diamond and polished diamond sales in excess of $953 million for the first quarter of 2011.

The company has noted that worldwide demand for rough diamonds remains high, including in China and India, and expects this trend to continue.

At a working meeting with Alrosa managers, President Fedor Andreev ordered that the budget planning center acquire the status of a company department. The budget department will be charged with strategic planning and the consolidated management of the budgeting functions of Alrosa's subdivisions and subsidiaries.

Earlier this month, the diamond producer announced that its revenue for 2010 had topped pre-crisis levels, totaling $3.4 billion (1.5 times that of 2009). Alrosa's gross profits for 2010 stood at $1.22 billion, while its net income stood at $308.4 million, more than five times its net income for 2008.

Like its main competitor De Beers, Alrosa upped diamond production in 2010, producing 34.33 million carats compared to the 32.7 million carats it produced in 2009.

The company has also changed its sales policy for polished diamonds of over 1 carat. These diamonds will be sold on a tender basis rather than under one-time contracts.