Rajesh Exports Q1 net profit rises, to open 40 more SHUBH jewellers

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Rajesh Exports net profit rises, to open 40 SHUBH jewellers
Rajesh Exports, a gold jewellery manufacturing company's profits rose by 3.25% to Rs 98.2 crore on a consolidated basis for the first quarter this fiscal.

The company's revenues rose 5.15% to Rs 4,967.1 crore in the same quarter. EPS for the quarter stood at Rs 3.33 against Rs 3.22 for the corresponding period of previous year.

According to Rajesh Mehta, Chairman of the company, "We will be aggressively expanding our retail presence across the country. The company has plans to open 40 more Shubh Jewellers showrooms in Karnataka, within the next two quarters, which would complete its retail expansion plans in the State."

"The company would be further expanding its retail presence in the other three Southern States, and further to a pan Indian presence. The company has plans to open 500 Shubh Jewellery showrooms by 2014. Currently, the company has 80 Shubh Jewellers, retail showrooms," he added.

The company has plans to open 40 more SHUBH Jewellers Showrooms in the state of Karnataka, within the next two quarters, which would complete its retail expansion plans in the state of Karnataka. The company would be further expanding its retail presence in the other three Southern States, and further to a Pan Indian presence. The company has plans to open 500 SHUBH Jewellery showrooms by the year 2014. Currently the company has 80 SHUBH Jewellers, retail showrooms.

The shares of the company on Tuesday closed at Rs 126.30 higher by 0.20% on BSE.The stock touched an intraday high of Rs.127.50.

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Read more about: rajesh exports
Story first published: Tuesday, August 14, 2012, 16:27 [IST]
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