Rajesh Exports Q2 net up 156%

Rajesh Exports, Bangalore-based gold jewellery manufacturer and retailer, has posted a 156% increase in net profit at Rs 54.24 crore for the second quarter of FY08 when compared with Rs 21.16 crore in Q2FY07.

Revenue was up 19.38% at Rs 2,044.21 crore as against Rs 1,712.22 crore in the corresponding period of the last fiscal. EPS for the second quarter increased 156% to Rs 14.67 from Rs 5.73 in the same period last year.

Commenting on the results, Rajesh Mehta, chairman, Rajesh Exports, said: "The company has yet again posted a strong performance. I am pleased that the company's focus on margin expansion is bearing results. Going forward, I am confident that the company will post higher profits as margin expansion plans of the company keep maturing."