Revenue for the period under review added up to Rs 38,066 crore, down 52.6% YoY.

Total expenses declined by 52.4% to Rs 38,026.46 crore in Q2 FY24 over Q2 FY23. This was primarily on account of lower raw material costs (down 52.4% YoY), lower employee expenses (down 20.3% YoY), lower depreciation charge (down 55.7% YoY) and lowers other expenses (down 72% YoY).

Profit before tax in Q2 FY24 stood at Rs 52.97 crore, down by 86.6% from Rs 394.84 crore in Q2 FY23.

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.