petra diamonds said tuesday its missed its diamond production target for fiscal 2023 leading to a fall in revenue for the year the gemstone miner revenue from diamond sales dropped 44 to 3284 million in the fiscal year ended june 30 from 5841 million in fiscal 2022 the fall was driven by a lower contribution from rough diamonds which stood at 126 million compared with the prioryears 891 million the decrease was due to a 34 reduction in rough diamonds sold as the amount of diamonds recovered also fell by 20 in addition the company had to postpone its scheduled sixth diamond tender in june to fiscal 2024 total diamond production fell to 267 million carats due to a 5 decrease in fourthquarter production from the third quarter missing the guided range of 275 million carats to 285 million carats in fiscal 2022 the company produced 335 million carats looking ahead petra diamonds guides for between 29 million and 32 million total carats recovered in fiscal 2024 we continue to expect a supportive diamond market in the medium to longer term as a result of the structural supply deficit which will benefit our strong growth profile chief executive richard duffy said