The overall business stability led to good performance: Rajesh Mehta, Rajesh Exports Ltd.
ET Now spoke to Rajesh Mehta, Chairman, Rajesh Exports Ltd., on the company’s quarterly performance.
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| ET Now spoke to Rajesh Mehta, Chairman, Rajesh Exports Ltd., on the company’s quarterly performance.
You sales are up 66%, profits are up 160%, what is all the bullishness coming from?
Yeah, if you see from our quarterly results, we have clocked sales of 4532 crores and a profit of around 44 crores for the December ended quarter which is higher than by about more than 60% or 70% compared to the annual comparable quarter and the profits are also higher by about 200% compared to the annual comparable quarter. In fact these regions are higher by a substantial percentage even when compared to the sequential quarter whether it is a quarter...
But why are these higher?
Overall stability in the business, I am using the word stability and I am not using the word bullishness or the turnaround because there is the downward trend or the recession which was there has definitely stopped, that is there is a kind of a stability which is happening in the downward trend but still I am not seeing any major up move in the business or a situation where one can confidently say that the businesses have turned around. I still feel that it is a cautious subject and we will have to wait with caution.
Your raw material prices during the quarter under review up 73%. Despite that you have managed a huge jump in your profit. Also now give us a sense of which segment really did well for you, was it the Asian jewellery segment, the western jewellery segment or was it the diamond jewellery segment?
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Mainly we did very well in the Asian jewellery segment as such because still the western jewellery segment we are still very cautious about the US and the European markets. So the major business came in from the Asian jewellery segment from the Middle East and the Far East. Diamond jewellery section also has done fairly well compared to its previous performance but it has not contributed significantly to the top line or the bottom line as such.Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
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