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Rajesh Exports secures export order worth Rs 1,352 cr

Capital Market 

Rajesh Exports has bagged a major export order worth Rs 1,352 crore for designer range of gold jewellery from Germany.

The company will be executing the order from its own manufacturing facilities. The order is to be completed by 31 March 2021.

The firm said this is its first major order after the outbreak of pandemic. The company is confident that it will be able to reach its pre-COVID-19 revenues and profitability in the coming quarters and would also be in a position to post impressive growth owing to the remaining pent up demand of the last three quarters.

Rajesh Exports' consolidated net profit dropped 28.1% to Rs 227.64 crore on a 12.3% rise in net sales to Rs 45,586.42 crore in Q3 FY21 over Q3 FY20.

Shares of Rajesh Exports rose 0.92% to Rs 484.05. Rajesh Export has a presence across the value chain of gold from mining till its own retail brand. The company exports its products to various countries around the world and also supplies its products in wholesale market and jewellery showrooms across India. Rajesh Exports has set up 83 retail jewellery showrooms under the brand name of SHUBH Jewellers

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, February 17 2021. 11:38 IST