NEW DELHI, Aug 14: Jewellery exporter and retailer Rajesh Exports (REL) today posted an over-two fold increase in net profit at Rs 237.16 crore for the first quarter ended June on the back of higher sales.
The company had logged a net profit of Rs 118.34 crore in the same period last year.
Its net sales in the quarter under review stood at Rs 15,144.25 crore, up 91.57 per cent, as 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 USD 400 million.
Rajesh Exports was trading at Rs 575.75 on BSE, up 1.28 per cent. (PTI)
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