Rajesh Exports Q4 Profit Up 47%

Gold jewelry manufacturer and exporter Rajesh Exports reported a fourth quarter net profit total of Rs 489.4 million ($11.39 million) for the three-month period ended March 31, a 47 percent increase over the previous year period.  Total revenue for the period increased 41 percent year-over-year to Rs 25.25 billion ($587.82 million).

However, the firm’s earnings before interest, depreciation, tax and amortization (EBITDA) fell to Rs 841 million ($19.58 million), a drop of 26 percent. Earnings per share for the quarter were Rs 1.95 ($0.05), down from Rs 9.02 a year ago ($0.21).

For the year ended March 31, total revenue rose 26 percent to Rs 86.67 billion ($2.02 billion), and the board of directors recommended at 35 percent dividend.

"The company has posted a record profit before tax. The increase in profits is primarily due to the focus of the company on its growth engines, which has resulted in better value addition for the company's products," Chairman Rajesh Mehta commented.