Rajesh Exports Sep Quarter PAT Increases by 75 Per Cent

Rajesh Exports, country's largest jeweller, reported a 75.15 percent jump in profit at Rs 279.83 crore for the second quarter ended September 30, on the account of higher sales as compared to Rs 159.77 crore for the quarter ended September 30, 2014. 
 
Revenue jumped more than four-fold to Rs 44,319.65 crore during the quarter under review as against Rs 10,959.42 crore a year ago as it completed integration of the Swiss gold refiner.

"The acquisition would yield better results in the coming quarters as the synergies of both the companies would start integrating and set a new world order in gold business," said Rajesh Mehta, chairman of Rajesh Exports said in a statement.

The company targeting more focus on retail business would increase profitability in the coming quarters. The company had an order book of Rs 24,215 crore. Rajesh Exports acquired in July Valcambi, the Swiss refiner for USD 400 million.

For six months, ending September 30, 2015, the company’s net profit stood at Rs 517 crore, rising by 85.9 per cent Y-o-Y. The company's revenue at Rs 5946.39 crore registered growth of 215 per cent Y-o-Y.

As on September 30, 2015, the promoters holding in the company stood at 53.89 per cent while Institutions and Non-Institutions held 20.09 per cent and 26.02 per cent respectively.