Rajesh Exp Q2 net up 41 per cent

Manufacturer-exporter of gold jewelry Rajesh Exports' sales for the quarter-ended September 2004 at Rs 871 crore was up 76 per cent over the corresponding quarter last year.

Net profit during the same period, was up 41 per cent to Rs 7.67 crore from Rs 5.45 crore.

Sequentially, net profit was marginally up 5 per cent while sales was down 18 per cent. For the quarter-ended June 2004, Rajesh Exports' net profit and sales stood at Rs 7.3 crore and Rs 1,065 crore respectively.

In the first half of the year, the company's sales at Rs 1,936 crore was up 157 per cent over the corresponding period last year. In the same period, profits rose 40 per cent to Rs 14.97 crore.

Announcing the results, Rajesh Mehta, chairman & managing director, Rajesh Exports said, "Our efforts now will be to enhance the bottomline in the forthcoming quarters. We will look at backward and forward linkages to increase our margins."