Rajesh Exports added 2.76% to Rs 494.40 after the company bagged an export order worth Rs 745 crore from Germany.
The company on Wednesday said it has bagged a first major order post Covid worth Rs 745 crore for designer range of gold jewellery from Germany. The order is to be completed by July 2021. The company will be executing the order from its own manufacturing facilities. The company said it is confident of executing this order well within the time frame.Rajesh Mehta, chairman of Rajesh Exports said, "In this challenging time we are happy to inform that company has yet again got an overseas order which proves our efficiency in executing orders. During the pandemic we have very cautiously handled our business and have ensured that the Company does not suffer any losses, and have posted profits. The growth from quarter to quarter is improving and we would be able to post impressive top line and bottom line in the coming quarters."
Rajesh Exports is one of the largest manufacturers of gold products in the world. The company exports its products to various countries around the world and also supplies its products in wholesale market and jewellery showrooms across India. The company's consolidated net profit dropped 28.1% to Rs 227.64 crore on a 12.3% rise in net sales to Rs 45,586.42 crore in Q3 FY21 over Q3 FY20.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU