Bangalore-based jewellery exporter Rajesh Exports has posted a 48.5 per cent decline in its net profit to Rs 50.69 crore during the fourth quarter of last financial year on the back of higher expenditure incurred by the increase in stock along with an increase in tax provisions.
The total income rose by marginal 1 per cent to Rs 6,346.7 crore during this period. Meantime, operating profit of the company decreased by 14.5 per cent to Rs 111 crore as compared with Rs 129.7 crore reported an year earlier. On annual basis, net profit increased by 28 per cent to Rs 247.9 crore in the last financial year as compared with Rs 193.4 crore reported an year earlier.
Total income grew by 12.61 per cent to Rs 20,845 crore as compared with Rs 18,511 crore posted an year ago. Meantime, operating profit increased by 46.6 per cent to Rs 412.34 crore in FY11 as compared with Rs 281.15 crore reported an year earlier.