Rajesh Exports Q2 net profit tumbles 88 percent to Rs 45 crore

Rajesh Exports witnessed a 88 percent drop in net profit to Rs 45 crore ($5.5 million) for the second quarter ended September, as against Rs 273 crore in the year-ago period.

The company’s revenue for the quarter was down by 52 percent to Rs 28,079 crore, as against Rs 80,271 crore posted in the corresponding period of the previous fiscal year.

The company’s total expenses were down by 52 percent to Rs 38,026 crore in the September 2023 quarter against Rs 79,876.3 crore in the corresponding quarter of the last year.

The jewellery firm exports its products to various countries around the world and sells its products in wholesale and retail in India. The company has retail showrooms under the brand name of Shubh Jewellers.