Jewellery major Rajesh Exports clocks 64.2% jump in PAT in FY12

KOLKATA: Rajesh Exports Ltd has clocked a net profit of Rs 407.15 crore in FY12, which is higher by 64.2% compared to FY11. The revenues of the company jumped 23.4% to Rs 25724 crore for the year ended March 31, 2012. The growth in revenues has been due to the growth in export and retail businesses of the company.

Announcing the result Mr Rajesh Mehta, chairman of Rajesh Exports said: "The company has acheived an impressive growth in its retail business and Shubh Jewellers (the retail brand) has emerged as a household brand in the state of Karnataka." He claimed that company is now the largest retailer of gold jewellery in Karnataka.

Unfolding the expansion plans of the company, Mr Mehta said that the company will be aggressively expanding its retail presence across the country. The company plans to open 40 more Shubh Jewellers showrooms in Karnataka within next two quarters, which would complete its retail expansion plans in the state. The company will be further expanding its retail presence to other three southern states and further to pan-Indian presence.

The company has plans to open 500 Shubh Jewellery showrooms by 2014. Currently the company has 80 Shubh Jewellers retail showrooms. The order book position of the company as on March 31, 2012 was Rs 4672 crore.