Rajesh Exports Limited announces results for fiscal year ended 31 March 2005

Mumbai: Rajesh Exports Limited (BSE Code: 531500) manufacturer of gold jewellery has announced its financial results for the fiscal year ended 31 March. The company had declared an interim dividend of 35 per cent and the board of directors recommended a further dividend of 65 per cent, bringing the total dividend to 100 per cent.

Sales were Rs4,246.81 crore for the fiscal year ended March 31, 2005 registering an increase of 39.23 per cent as compared to the same period last year. Net profit after tax was Rs43.08 crore for the fiscal year ended 31 March 2005, compared to Rs27.31 crore for the same period a year ago, an increase of 57.75 per cent. Earnings per share (EPS) for the fiscal year ended March 31, 2005 increased to Rs61.54 from Rs39.01 for the corresponding period a year ago, an increase of 57.75 per cent. A total dividend of 100 per cent has been recommended as compared to 50 per cent in the previous corresponding year

Rajesh Mehta, chairman, Rajesh Exports said, "We are beginning to reap dividends on various cost rationalization initiatives implemented during the year. Our focus on offering value added products to our existing customers has been gaining traction and we are also exploring other emerging markets to expand our global footprint."