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Rajesh Exports Reports ‘Record’ Results After Valcambi Acquisition

Feb 17, 2016 11:07 AM   By Rapaport News
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RAPAPORT... India-based gold refining company Rajesh Exports reported revenue roughly quadrupled year on year to $7.27 billion (INR 498.19 million) in the third quarter that ended December 31 as it completed the $400-million acquisition of Valcambi, the world’s largest gold refinery. Profit soared 77 percent over last year to $44.2 million.

The three months were a “record-breaking quarter compared to any other quarter for the company since inception,” said Rajesh Mehta, the company’s chairman, in a statement February 11. The new management of Valcambi has “enhanced” its performance, which is the “primary reason for the increase in revenues and profits,” Mehta added.

During the nine months to December, revenue more than tripled to $15.95 billion. Profit for the nine months advanced 82 percent to $119.7 million.
Tags: gold, India, Rajesh Exports, Rapaport News, Valcambi
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