Rajesh Exports clocks 14.5% rise in net profit in Q3 FY13

KOLKATA: Jewellery major Rajesh Exports Ltd (REL) has clocked a 14.5% increase in net profit to Rs 131.48 crore in Q3 of FY13 as compared to Rs 114.76 crore in the corresponding period of the previous year.

In the period under consideration, the gross revenue jumped from Rs. 6518.2 crore from Rs 7823.16 crore, an increase of 20%. The total order book as on 31st Dec 2012 stands at Rs 6762.4 crore.

Commenting on the results, Mr Rajesh Mehta, Chairman of Rajesh Exports said, "Our performance has been according to our estmates. In spite of the tough conditions in the exports markets, wecontinue to perform better. The impact of our retail initiatives in India have been growing rapidly. In the coming quarters we will see better performance "

REL is one of the largest gold jewellery manufacturing manufacturing companies in the country. The company has set up its manufacturing facility at White Field, Bangalore, with a capacity to process 250 tons of gold.

With its retail initiative, under the brand name of SHUBH Jewellers, REL has emerged as the largest retail jeweller in the south Indian State of Karnataka, and has also emerged as a fully integrated gold jewellery company.