Rajesh Exports reported 45.2% drop in consolidated net profit to Rs 173.01 crore on a 52.9% jump in net sales to Rs 1,02,149.84 crore in Q2 FY21 over Q2 FY20.
Total expenditure during the quarter increased by 53.4% year-on-year to Rs 1,01,943.77 crore.
Profit before tax in Q2 FY21 stood at Rs 187.88 crore, down by 45.3% from Rs 343.22 crore in Q2 FY20. Current tax expense declined by 46.1% YoY to Rs 14.87 crore.
The scrip rose 2.37% to Rs 471.30 on the BSE. It traded in the range of 460.40 and 478.35 so far during the day.
On a year-to-date (YTD) basis, the stock has declined by 30% while the benchmark S&P BSE Sensex rose by 6.55% during the same period.
Rajesh Exports is a gold retailer in India which refines, designs, and sells gold and diamond jewelry.
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