Rajesh Exports Q2 net profit declines 45 percent to Rs 173 crore
Rajesh Exports consolidated net profit for the second quarter ended September 2020 declined 45 percent to Rs 173 crore ($23.3 million), as against Rs 316 crore it had posted in the year-ago period.
The company’s revenue for the quarter rose by 53 percent to Rs 102,149 crore, as against Rs 66,827 it had reported in the corresponding period last fiscal.
The company’s total expenses for the quarter rose by 53 percent to Rs 101,943 crore.
Rajesh Exports is a gold retailer in India that refines, designs, and sells gold and diamond jewellery. The company has 82 retail jewellery showrooms under the name Shubh Jewellers and supplies jewellery to about 5,000 retail showrooms across the globe.
Despite the Covid-19 pandemic, the company is planning to expand its retail presence in the South Indian states in the coming months.
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