Rajesh Exports clocks Q3 profit at Rs 317 crore

Rajesh Exports, the world's largest manufacturer of gold products, has posted a marginal increase in its consolidated profit after tax of Rs 317 crore during the third quarter of current financial year (Q3 FY20).

Revenues rose to Rs 40,601 crore while earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 351 crore.

Earnings per share for Q3 FY20 work out to Rs 10.72 per share of one rupee.

"In spite of the global and Indian slowdown, the company has posted sustained results both in terms of revenue and profitability," said Chairman Rajesh Mehta.

For the first nine months of current fiscal (9M FY20), the profit after tax was Rs 934 crore on revenues of Rs 1.48 lakh crore. EBITDA stood at Rs 1,046 crore while earnings per share work out to Rs 31.63 per share of one rupee.

Rajesh Exports is a zero debt company with annual sales of Rs 1.75 lakh crore on a consolidated basis in FY19. It processes 35 per cent of gold produced in the world and has a presence across the value chain from gold mining till its own retail brand.

With the acquisition of Valcambi Suisse, the world's largest gold refinery in Switzerland, the company has built up a total capacity to refine 2,400 tonnes of precious metals per annum.

It has a total installed capacity to manufacture 400 tonnes of gold products per annum including the finest plain and studded jewellery, medallions and coins.