The company had logged a net profit of Rs 118.34 crore in the same period last year. Its net sales in the quarter under review stood at Rs 15,144.25 crore, up 91.57 percent, as against Rs 7,905.04 crore in the year-ago period, Rajesh Exports said in a BSE filing.
Rajesh Mehta, Executive Chairman of Rajesh Exports told CNBC-TV18 that he expects to post good Q1 FY16 numbers. He also expects to see 3-5% margin because of expansion into retail.
Total income of the company increased to Rs 19,165 crore in the January-March quarter from Rs 12,230 crore in the same quarter of the previous fiscal.
Rajesh Exports has a manufacturing facility in Bengaluru with an installed capacity to process 250 tonnes of jewellery per annum.
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In the union budget the customs duty on Gold bars of not less than 995 fineness has been increased from 2% to 4% on the value of import.