Companies

Rajesh Exports posts 2-fold rise in net profit

PTI New Delhi | Updated on January 23, 2018 Published on August 14, 2015

Jewellery exporter and retailer Rajesh Exports Ltd has posted an over two-fold increase in net profit at Rs 237.16 crore for the first quarter ended June 30, 2015 on the back of higher sales.

The company had logged a net profit of Rs 118.34 crore in the same period last year.

Net sales in the quarter under review stood at Rs 15,144.25 crore, up 91.57 per cent, against Rs 7,905.04 crore in the year-ago period, Rajesh Exports said in a BSE filing.

Rajesh Exports Chairman Rajesh Mehta said: “The first quarter for the company has been a record-breaking quarter compared to any other first quarter. It has to be further noted that this highest first quarter performance of the company has been without the consolidation of the performance of Valcambi.”

He further said: “... the company would be able to perform much better in coming quarters... the performance of Valcambi would also be further consolidated.”

Last month, the company had announced the acquisition of Switzerland-based gold refinery Valcambi for $400 million.

Rajesh Exports’ shares were trading at Rs 575.75 on the BSE, up 1.28 per cent.

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Published on August 14, 2015
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