On a consolidated basis, the net profit of On Rajesh Exports jumped 27.9 per cent to Rs 372.96 crore on a 94.62 per cent rise in revenues to Rs 80,270.06 crore in the second quarter of FY23 over in the second quarter of FY22. The profit before tax (PBT) increased 32.63 per cent to Rs 394.84 crore in the third quarter of FY22 as compared to Rs 297.70 crore in the second quarter of FY22. EBIDTA for the quarter stood at Rs 418.97 crore. Total expenses jumped 95.06 per cent YoY to Rs 79,876.32 crore in Q2FY23. The cost of materials consumed stood at Rs 79,730.32 crore, up 95.5 per cent year on year, while employee benefits expense was Rs 54.37 crore, up 21 per cent on a yearly basis in the second quarter of FY23.
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Rajesh Mehta, chairman of Rajesh Exports, said, “I am pleased to state that the company has achieved handsome growth in revenues and profitability. There is a good order book, and the company hopes to keep up its growth trajectory in the coming quarters.”
This company is India’s largest manufacturer of gold products in the world. The company exports its products to various countries. Around the globe, the company supplies its products in wholesale markets and jewellery showrooms. On the Bombay Stock Exchange (BSE), the scrip declined 0.12 per cent to recent trade at Rs 752.15.
