Rajesh Exports Q1 results: Net profit decreased by 49.61% to Rs. 152.13 crores for FY21
Rajesh Exports Q1 results: It is one of the largest gold retailer companies in India located in Bangalore. However, the company refines, designs, and sells gold jewellery across India. The company was founded by Rajesh Mehta and his brother Prashant Mehta in 1989. Whereas the company ranked 495th on the Fortune Global 500 in 2019.
Meanwhile, on Friday, September 18th, the shares of the company surged almost 12% in the stock market. The main reason for this is due to the company reported its Q1 results for the financial results 2020-21. The companies consolidated net profit decreased by 49.61% to Rs. 152.13 crores during the quarter ended on June 30th. The company also reported its consolidated net profit of Rs. 301.94 crores in the same quarter last fiscal year.
Besides, the companies total revenue from operations increased by 13.37% to Rs. 46,054.55 crores in Q1FY21. The company also reported its total revenue of Rs. 40,622.52 crores in the same quarter last financial year.
On the other side, the companies total expenditure during this quarter increased by 13.84% to Rs. 45,886.96 crores as compared to Rs. 40,306.60 crores in the same period last fiscal year.
However, the shares of Rajesh Exports Limited reported a bullish trend in the stock market on Friday. The company gained 51.10 points with an 11.11% increase and reached 511.00 INR. While in BSE, the company gained 48.30 points with a 10.50% increase and reached 508.30 INR.
Stock Market September 18th:
On Friday, both Sensex and Nifty continues its bearish trend in the stock market from the last session. The Sensex is trading below 38,900 levels and the Nifty is trading below 11,500 levels in the stock market. The Sensex lost 134.03 points with a 0.34% decrease and reached a 38,845.85 level. While Nifty lost 11.15 points with a 0.097% decrease and reached 11,504.95 level.
On the other side, the number of coronavirus cases in India reached 53,08,014 as of Saturday, September 19th, and deaths reached 85,619.
In the border markets, the S&P BSE SmallCap reported a bearish trend in the stock market on Friday. It lost 49.57 points with a 0.32% decrease and reached a 15,299.98 level. The S&P BSE MidCap gained 38.67 points with a 0.26% increase and reached 15,047.80 level. While the Nifty Bank lost 289.30 points with a 1.30% decrease and reached 22,031.05 level.
Top Gainers on September 18th: Dr Reddy’s Laboratories, Cipla, Adani Ports, Bharti Airtel, and Grasim Industries are the top gainers in today’s stock market.
Top Losers on September 18th: HDFC Bank, Kotak Mahindra Bank, Bajaj Finserv, Shree Cements, and Maruti Suzuki are the top losers in today’s stock market.