Rajesh Exports, world’s largest gold refiner, revealed its revenue and associated figures for the third quarter
For the quarter that ended on December 31, 2018, Rajesh Exports, the world’s largest gold refining company, revealed their unaudited consolidated revenue figures at Rs 4,40,172.11 million. In comparison to the last quarter, the revenue growth was marked at 6.50%. These numbers were revealed after the Board of Directors meeting.
Rajesh Mehta, Chairman of Rajesh Exports said, “I am pleased to announce the December 2018 quarter results of the company. The company has shown steady growth both in revenues and profitability compared to the comparable quarter of the previous year. The company has taken several initiatives to increase the profit margins which I am confident will bear result in the coming quarters.”
Rajesh Exports’ consolidated Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was marked at Rs 4,605.96 million, a 6.40% growth in contrast to the third quarter of 2017. Even after tax deduction, the Profit After Tax (PAT) figures increased by 4.70% as compared to Q3 2017 at Rs 3,159.68 million. This comes after the two major orders worth Rs 892 crore and Rs 933 crore bagged by Rajesh Exports in 2018. Rajesh Mehta commented on these orders that the company’s new line of jewelry designs attracted global attention. Consequently, both the orders came from the UAE.
Though gold retail has generally been a profitable avenue, Rajesh Exports has made some serious headlines with its stocks in the past. The company’s stock grew by 561% in six years. On August 16,2013, Rajesh Exports (NSE: RAJESHEXPO) was valued at Rs 98.30, but on August 16, 2018, it traded at Rs 640 in the stock market. Even the Earning Per Share (EPS) figures of the ongoing financial year’s third quarter provided Rs 10.70 per share of Rs 1, a 4.70% increase. For all those who aren’t aware, EPS denotes the share of company’s profits given to every share of its stock.
Gold has shown positive signs of recovery in the Indian stock as well as retail market. With companies like Rajesh Exports making waves with improving financial figures with every quarter, it will not be an understatement to say that the company’s stocks could possibly deal with hefty profit margins in the coming year.
