Rajesh Exports Ltd, country's largest jeweller, said second quarter profit rose 75.15% to Rs 279.83 crore as business improved in retail and scored better margins in its acquisition of Valcambi.
Revenue increased by over 304% to Rs 44,319.65 crore as it completed integration of the Swiss gold refiner. Rajesh Exports, Bengaluru-based, reported profits of Rs 159.76 crore on revenue of Rs 10,959.42 crore in the same period last year.
Rajesh Exports stock was trading at Rs 705, up 1.02% at 12 pm on the Bombay Stock Exchange.
"The acquisition would yield better results in the coming quarters as the synergies of both the companies would start integrating and set a new world order in gold business," said Rajesh Mehta, chairman of Rajesh Exports said in a statement.
He said the firm's focus on retail business would increase profitability in the coming quarters. The company had an order book of Rs 24,215 crore. Rajesh Exports acquired in July Valcambi, the Swiss refiner for $400 million.