The inscription can be translated:
On that night when thy moonface became the light of our solitude
The candle melted, unable to bear our companionship
The moment when thou tearest off the mask from thy moon-like face
There rises the sun of our good fortune.
The inscription is identical to that on a torch stand in the Victoria and Albert Museum (Melikian-Chirvani, A.S.: Islamic Metalwork from the Iranian World, 8th-18th centuries, London, 1982, no.141, p.315, from where the present translation is taken).