Moneycontrol
Nov 13, 2017 09:09 PM IST | Source: PTI

Rajesh Exports Q2 net profit down 4% at 298crore

Total revenue declined by 19.12 percent to Rs 52,130.5 crore in the July-September period of the 2017-18 fiscal from Rs 54,458.9 crore in the year-ago period.

 
 
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Rajesh Exports, the world's largest gold refiner, today posted a 3.73 percent fall in its consolidated net profit at Rs 298.14 crore in the quarter ended on September 30 on poor sales.

Its net profit had stood at Rs 309.7 crore in the same quarter of previous year, the company said in a BSE filing.

Total revenue declined by 19.12 percent to Rs 52,130.5 crore in the July-September period of the 2017-18 fiscal from Rs 54,458.9 crore in the year-ago period.

Expenses, however, remained lower at Rs 51,641.1 crore in the second quarter of this fiscal compared with Rs 64,039.2 crore in the same period corresponding year.

Till September-end, the company had an order book of Rs 42,642.7 crore.

The company said it has launched several new designs of gold jewellery for retail stores and a new range of investment gold bars for the global market.

It has also finalised systems and processes for rapid retail expansion, the filing added.

The company's refining capacity has increased to 2,400 tonnes of precious metals per annum after the acquisition of Valcambi, the world's largest gold refinery at Switzerland.

Shares of the company fell by 0.49 percent to close at Rs 778.4 apiece on the BSE today.
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