Radhika Jeweltech net profit rises 34% QoQ in Q3FY22

16 Feb 2022 , 09:01 AM

BSE listed, Radhika Jeweltech Ltd. is a renowned retail jewellery Company dealing in higher-end legacy jewellery including fine gold jewellery and diamond-studded jewellery.

For the quarter ended 31 December 2021, the revenue from operations grew to Rs92 crore, a rise of 41% QoQ. PAT rose from Rs8.40 crore in Q2FY22 to Rs11.27 crore in Q3FY22, a rise of 34% QoQ.

For 9-months ended 31 December 2021, the revenue jumped 120% YoY, from Rs82.45 crore (9MFY21) to Rs181.57 crore (9MFY22). PAT grew 83% YoY to Rs22.61 crore (9MFY22)

Mr Ashok Zinzuwadia, Chairman of the company laid the foundation of Radhika Jewellers back in 1987. Since then Radhika Jeweltech Limited has experienced rapid growth and expanded from a small shop in Soni bazar of Rajkot city in its initial stages to a huge showroom on Palace road of Rajkot city.

Mr Zinzuwadia attributes success of company in last few years to their customer centric philosophy, superior jewellery designs displayed to highly valued customers, outstanding selling skills of employees. This combination ensures a loyal customer base all over areas surrounding Rajkot.

The company is also reaping the benefit of favourable government policies in recent times. As government has declared the gems and jewellery sector as a focus area for export promotion. With various measures recently to promote investment and upgrade technology and skills to promote ‘Brand India’ in the international market.

Also the government has permitted 100% FDI in the sector under the automatic route, wherein the foreign investor or the Indian company do not require any prior approval from the Reserve Bank or Government of India.