Rajesh Exports net up 126% at Rs 42cr

Rajesh Exports, a Bangalore-based gold jewellery manufacturer and retailer, has posted a 125.77% increase in net profit at Rs 42.13 crore in the first quarter (Q1) of financial year 2007-08 as against Rs 18.66 crore in Q1FY07.

The company's revenue was up 34.26% at Rs 2030.23 crore as against Rs 1512.16 crore in Q1FY07.

Chairman Rajesh Mehta said: "The increase in profit is primarily due to the company getting better margins compared to the previous quarter, and our increased focus to achieve a net profitability of 10% of revenue within the next five years. Also, there was an increase in revenue due to the retail foray and export of designer jewellery."