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Rajesh Exports 3Q Sales +20%

Profit rises 15 percent to $24.4 million during the quarter.
Feb 15, 2013 3:25 AM   By Dilipp S Nag
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RAPAPORT... Jewelry manufacturer Rajesh Exports Ltd. reported that  sales rose 20 percent year on year to $1.45 billion (INR 78.23 billion) during its third fiscal quarter that ended on December 31, 2012. Growth was driven by its export and retail businesses. Expenses were up 21 percent to $1.42 billion (INR 76.34 billion).  Profit increased 15 percent to $24.4 million (INR 1.31 billion).

"In spite of the tough conditions in the export markets, we continue to perform better," said Rajesh Mehta, the chairman of Rajesh Exports. "The impact of our retail initiatives in India has been growing rapidly. In the coming quarters we will see better performance.”

The Bangalore-based Rajesh Exports noted that it had outstanding orders worth $1.26 billion (INR 67.62 billion) as of December 31. The company operates retail stores in the state of Karnataka under the Shubh Jewellers brand.

*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
Tags: Dilipp S Nag, India, Jewelry, Karnataka, Rajesh Exports, retail, Shubh Jewellers
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