Rajesh Exports Q3 net up 77% at Rs 303 crore

Gold and diamond jewelery company Rajesh Exports Ltd (REL) today reported a 76.74% jump in consolidated net profit at Rs 302.6 crore for the third quarter ended December 31, helped by robust sales.

The company had posted a net profit of Rs 171.2 crore in the year-ago period, it said in a BSE filing.

Net sales grew by over fourfold to Rs 49,819.13 crore in the October-December quarter this fiscal from Rs 12,432.43 crore in the same quarter of 2014-15 fiscal.

Rajesh Exports Chairman Rajesh Mehta said: "During the last quarter the company had completed acquisition of Valcambi the world's largest gold refinery... REL will now be focusing on harnessing the strength of Valcambi in promoting its retail business to achieve the long term vision of the company."

Shares of the company were trading at Rs 698.40, down 0.19 from previous close on BSE.