Jewellery manufacturer and exporter Rajesh Exports Ltd's recent and increased focus on its retail business has resulted in a 45 per cent growth in profits. The retail business brought in about 20 per cent of the profits, Mr Rajesh Mehta, Chairman of Rajesh Exports, said. The profits rose to Rs 107 crore in the quarter ended September 30compared with Rs 73 crore last year.
The company which began as a manufacturer and exporter of jewellery rolled out its retail venture about five years ago under the ‘Laabh' and ‘Shubh' brands to sell gold and diamond jewellery. “The primary reason for growth in profits is the growth in revenues and profit from the retail business,” Mr Mehta said.
The company's revenues this quarter were Rs 5,767 crore and the order book as on June 30 stands at Rs 4,841 crore, with orders expected to be completed by January .