(IDEX Online) - Petra Diamonds today announced increased sales of $102.9m at its latest rough tender, and revealed it would reinstate dividends to shareholders on the back of a revenue hike.The UK-based miner said it sold 520,011 carats at its first tender of FY2023, down nine per cent on the previous tender in June. But an 11 per cent in prices pushed overall revenue up from $93m.Average price per carat was up 21 per cent, from $163 to ?, ?$198.Meanwhile, Petra, which reported a year-on-year revenue leap of 44 per cent in June, said it had has reinstated a dividend for shareholders - of between 15 per cent and 35 per cent of adjusted free cash flow - and launched a debt-cutting drive.It reported increased profits as a result of strong prices helped by uncertainty over Russian supplies.Richard Duffy, Petra's CEO, said: "We have achieved strong sales in the first tender of FY 2023, realising US$102.9 million due to a high proportion of high-value gem-quality single stones particularly from the Cullinan Mine."This has resulted in a 21% increase in our average realised price against Tender 6 in FY 2022, more than offsetting the 4.5% softening of like-for-like prices."We have seen strong support in fancy-coloured and large white stones while pricing of smaller stones has continued its recent upward trend. Subdued demand in China has led to relative pricing pressure on 0.75ct up to 5ct size ranges."He said the company still expected some volatility in pricing in the short-term given the ongoing macro-economic situation.Petra, founded by Adonis Pouroulis in 1997, owns the Koffiefontein, Finsch and Cullinan mines in South Africa, and the Williamson deposit in Tanzania.Pic shows Koffiefontein, Petra's biggest mine.