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Bangalore-based gold jewellery manufacturing company Rajesh Exports Ltd has reported a 100.67 per cent increase in net profit at Rs 95.12 crore (Rs 47.40 crore) for the quarter ended June 30, over last year.
The company's revenues grew 10.2 per cent to Rs 4,723.54 crore (Rs 4,283.19 crore) during the quarter.
“The primary reason for the record growth in profits has been the growth in the retail business (Shubh Jewellers) of the company,” said Mr Rajesh Mehta, Chairman of Rajesh Exports Ltd, in a statement.
Rajesh Exports has declared a dividend of Rs 3.22 on a Re 1 face value share compared with Rs 1.68 last year.
The company has an order book of Rs 4,650 crore as of today and expects to complete them by the end of the next quarter.
“During the quarter, the company has opened 25 more new Shubh Jewellers retail showrooms and will be further expanding its presence across the country with in the next three years,” the company said.
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