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Rajesh Exports Q2 net profit down 4% at 298cr

Press Trust of India  |  New Delhi 

Rajesh Exports, the world's largest gold refiner, today posted a 3.73 per cent fall in its consolidated net profit at Rs 298.14 crore in the quarter ended on September 30 on poor sales.

Its net profit had stood at Rs 309.7 crore in the same quarter of previous year, the company said in a filing.

Total declined by 19.12 per cent to Rs 52,130.5 crore in the July-September period of the 2017-18 fiscal from Rs 54,458.9 crore in the year-ago period.

Expenses, however, remained lower at Rs 51,641.1 crore in the second quarter of this fiscal compared with Rs 64,039.2 crore in the same period corresponding year.

Till September-end, the company had an order book of Rs 42,642.7 crore.

The company said it has launched several new designs of gold jewellery for retail stores and a new range of investment gold bars for the global market.

It has also finalised systems and processes for rapid retail expansion, the filing added.

The company's refining capacity has increased to 2,400 tonnes of precious metals per annum after the acquisition of Valcambi, the world's largest gold refinery at Switzerland.

Shares of the company fell by 0.49 per cent to close at Rs 778.4 apiece on the today.

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

First Published: Mon, November 13 2017. 19:48 IST