The Hindu Business Line : Rajesh Exports net rises 47%

Driven by private label and branded diamond jewellery businesses, jewellery manufacturer Rajesh Exports has posted a 46.80 per cent growth in net profit for the fourth quarter at Rs 48.93 crore. Its net sales rose 40.56 per cent to Rs 2,525.32 crore. Revenues for the year ended March 31, 2008 grew 25.72 per cent to Rs 8,667.01 crore. Profit after tax has registered a growth of 103.94 per cent to Rs 206.56 crore. Mr Rajesh Mehta, Chairman, Rajesh Exports, said, "Our diamond business and private label business are the growth engines for our business last year. Also, a booming West Asian market has contributed to our growth. Although, domestic retail business was not as great as it was supposed to be, with a profit margin of 8-9 per cent..." This year, the company plans to invest Rs 400 crore across all its businesses - bulk exports, domestic retail, private label and branded business. In his guidance for the year, Mr Mehta projected a topline growth of 15 per cent and bottomline growth of 50 per cent. - Our Bureau

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