Total expenses spiked 95.06% year on year to Rs 79,876.32 crore in the quarter ended 30 September 2022. Cost of materials consumed stood at Rs 79,730.32 crore (up 95.5% YoY) while employee benefits expense was Rs 54.37 crore (up 21% YoY) in Q2 FY23.

Rajesh Mehta, chairman of Rajesh Exports said, “I am pleased to state that the company has achieved handsome growth both in revenues and in profitability. There is a good order book and the company hopes to keep up its growth trajectory 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 scrip declined 0.12% to currently trade at Rs 752.15 on the BSE.