Rajesh Exports Ltd. announced its financial results for the quarter ending 30.06.2010. The company continued to strengthen its position with its customers by offering guaranteed jewellery of international quality at value for money prices.
Highlights for the First Quarter Ended June 30, 2010.
Revenues for the first quarter ended June 30, 2010 grew by 16.65 % on a year on year basis to Rs42834.39mn.
Net Profit After Tax registered a growth of 156.89 % over the corresponding period last year.
Earnings Per Share (EPS) for the first Quarter ended June 30, 2010 registered an increase of 136.62 % over the corresponding period a year ago.
Rajesh Mehta, Chairman of Rajesh Exports Limited said, “I am pleased to announce the results for the first Quarter ended June 30, 2010, the company has posted a profit before tax of Rs. 47 Crores.
The Company has managed itself very well during the global downturn and has capitalized on the opportunities, available during the downturn, which would set a high growth path for the company in the coming quarters.
Financial Highlights
Revenues
Revenues for the first quarter ended June 30, 2010 were Rs.42834.39 Millions, as compared to Rs.36721.68 Millions during the corresponding period last year, an increase of 16.65%.
Net Profit After Tax
Net Profit After Tax for the first quarter ended June 30, 2010 stood at Rs.474.01 Millions, as compared to Net Profit After Tax of Rs.184.52 Millions in the corresponding period a year ago. The increase represents a growth of 156.89 %. The increase in net profit is primarily due to the company’s focus on growing its profitability through its retail initiative.
Earnings Per Share
The Company registered an EPS of Rs.1.68 on a Re.1 face value share for the quarter, as compared to Rs.0.71 on a Re.1 face value for the same period a year ago, registering an increase of 136.62%.
ORDER BOOK
The order book position as on 30.06.2010 is Rs. 4162.32 Crores. These orders are to be completed within the September quarter.