Rajesh Exports Q3 net up 14% at Rs 131 cr

Leading jewellery exporter Rajesh Exports today reported 14.5% rise in standalone net profit at Rs 131.46 crore for the third quarter ended December 2012.

The company's standalone net profit stood at Rs 114.76 crore in the year-ago period.

The revenue grew by 20% to Rs 7,823.16 crore in the October-December quarter of 2012-13 from Rs 6,518.23 crore in the year-ago period, company said in a BSE filing.

The total order book as on December 31, 2012 stands at Rs 6762.40 crore.

Commenting on the results, Rajesh Exports Chairman Rajesh Mehta said, "Our performance has been according to our estimates. In spite of the tough conditions in the exports markets, we continue to perform better.

"The impact of our retail initiatives in India has been growing rapidly. In the coming quarters, we will see better performance."

The company has jewellery manufacturing facility in Bangalore with a capacity to process 250 tonnes of gold into jewellery.