Rajesh Exports Q4 net profit up 20.17% at Rs 247 cr

Jewellery firm Rajesh Exports Ltd (REL) today reported 20.17 per cent jump in consolidated net profit at Rs 247.04 crore in fourth quarter ended March, buoyed by robust sales.
The company had posted a net profit of Rs 205.56 crore in year-ago period, it said in a BSE filing.
Net sales increased to Rs 55,928.3 crore in the January-March quarter of 2015-16 from Rs 19,165.9 crore in the same quarter previous year.
For the full 2015-16 fiscal, the company reported a net profit of Rs 1,066.72 crore, up by 62.88 per cent from Rs 654.93 crore in the 2014-15 financial year.

The order book position as on March 31 was Rs 34,560 crore, the company said in the filing.
Stating that the year 2015-16 was the most successful year for the company since inception, Rajesh Exports Chairman Rajesh Mehta said: "During the year, the company successfully completed the acquisition of Valcambi, the world's largest gold refinery."

After the acquisition, REL was able to smoothly manage the affairs of Valcambi with an aim to grow profits of the company and take the company to new global heights, he said.
REL will not be focusing on harnessing the strength of Valcambi and distributing its products directly to retail consumer to achieve the long-term vision of the company to emerge as an end-to-end solution company in gold, he said in the filing.

The stock ended 0.12 per cent up at Rs 557.15 apiece on BSE.