Rajesh Exports Q3 net up nearly 77% to Rs 302.6 crore

Gold and diamond jewellery company Rajesh Exports on Friday reported a 76.74% jump in consolidated net profit at Rs 302.6 crore for the third quarter (Q3) ended December 31, helped by robust sales.

The company had posted a net profit of Rs 171.2 crore in the year-ago period, it said in a BSE filing.

The company's net sales grew by over four-fold to Rs 49,819.13 crore in the October-December quarter of current fiscal from Rs 12,432.43 crore in the same quarter of 2014-15 fiscal.

Rajesh Exports Chairman Rajesh Mehta said, "During the last quarter the company had completed an acquisition of Valcambi the world's largest gold refinery... Rajesh Exports will now be focusing on harnessing the strength of Valcambi in promoting its retail business to achieve the long-term vision of the company."

At 1327 hours, the shares of Rajesh Exports were trading up 1.06% or Rs 7.40 at Rs 707.10 per scrip on the BSE.