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Rajesh Exports 1Q Sales +5%, Profit +3%
Aug 14, 2012 8:01 AM
By Dilipp S Nag
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RAPAPORT... Jewelry manufacturer Rajesh Exports Ltd. reported that sales rose 5 percent year on year to $897.6 million (INR 49.67 billion) during its first fiscal quarter that ended on June 30, 2012. Profit increased 3 percent to $17.8 million (INR 982.7 million). Total expenditures were up 5 percent to $870.8 million (INR 48.19 billion) during the quarter.
Rajesh Exports stated that it is in the process of creating an exclusive range of gold jewelry to be launched in the upcoming festival season. The company retails its products through its own Shubh Jewellers showrooms.
The Bangalore-based company currently operates 80 retail stores and plans to open another 40 in the next six months in the state of Karnataka.
Rajesh Exports stated that it had outstanding orders worth $817.1 million (INR 45.22 billion) as of August 14, 2012.
*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
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Tags:
Dilipp S Nag, gold, India, Jewelry, Karnataka, Rajesh Exports, Rapaport, retail, Shubh Jewellers
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