Rajesh Exports registers Rs 317 crore profit in Dec Quarter; Net profit rises 0.16%

Rajesh Exports Limited, the world’s largest gold refiner, has continued to perform well in the 3rd quarter of Financial Year 2019-20. The company’s consolidated net profit goes up by 0.16% to Rs 316.46 crore in the December quarter of the current Financial Year. During the same period in 2018, Rajesh Exports recorded Rs 315.97 crore.

The company’s revenue rose by 7.76% to Rs 40601.12 crore in the quarter ended in December 2019, better than the last year’s sales data at Rs 44017.21 crore. Earnings per share (EPS) for the 3rd quarter are 10.72 per share of a rupee.

“I am pleased to announce the third quarter results of the company. In spite of the global and Indian slowdown, our company has posted sustained and impressive results both in terms of revenue and profitability which is a matter of great satisfaction and a testimony of the great work being done by team REL,” said Rajesh Mehta, Chairman, Rajesh Exports Ltd.

Rajesh Exports has recently been performing excellently in the stock market, having its stock price constantly clocking above INR 700. On February 11, it touched its height in the last one year, at INR 753.60. It is among the very few debt-free companies with the yearly revenue of Rs 1.48 lakh crore.

Market experts are confident about Rajesh Experts’ better performance in the next few quarters. Ever since the Bangalore-headquartered company has acquired the Swiss gold refinery, Valcambi Suisse, it has continued to see days of bloom. Valcambi is the largest gold refinery in the world.

Rajesh Exports has now the capacity of refining 2400 tonnes of gold per year. Its jewellery brand, Shubh Jewellers, which has over 80 outlets across Karnataka, is planning to expand in other states of the country as well.