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Our Bureau

Bangalore, July 31

Jewellery exporter Rajesh Exports Ltd posted a 10.71 per cent growth in net profit for the first quarter ended June 2006-07 at Rs 18.66 crore. Its first quarter revenues grew 28.94 per cent to Rs 1,512.73 crore.

According to a company release, the increase in revenues was due to a "substantial increase in export of designer jewellery," while the net profit rise has been attributed to "better margins over sales compared to the previous comparable quarter."

Rajesh Exports registered earnings per share of 5.05 in the first quarter this fiscal compared to 4.82 in the previous corresponding period. The company has finalised its retail plans, the first phase of which is to be launched soon, said the release. The company's order-book position as on date is Rs 1,264 crore.

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