Rajesh Exports Q1 net profit down 50 percent to Rs 152 crore
India’s leading jewellery maker Rajesh Exports Ltd witnessed a 50 percent decline in consolidated net profit at Rs 152 crore ($20.7 million) for the quarter ended June 30, 2020, as compared to a net profit of Rs 302 crore in the corresponding period a year ago.
The company’s total income from operations in the quarter under review was up 13 percent at Rs 46,055 crore, as against Rs 40,623 crore in the first quarter of the previous fiscal year.
The expenses during the quarter were up 14 percent at Rs 45,887 crore, against Rs 40,307 crore reported in the corresponding period a year ago.
Rajesh Exports Ltd has 82 retail jewellery showrooms under the name Shubh Jewellers, and supplies jewellery to about 5,000 retail showrooms across the globe. The company is planning to expand its retail presence in the South Indian states in the coming months.
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