Radhika Jeweltech Ltd reports Q1FY23 Financial Results; PAT jumps 270 per cent YoY
Aug 10, 2022
Rajkot (Gujarat) [India], August 10 (ANI/PNN): Radhika Jeweltech Ltd. (RJL) (BSE: 540125, NSE:RADHIKAJWE), a renowned retail jewelry Company dealing in high-end Legacy jewelry including fine gold jewelry and diamond-studded jewelry operating through a retail store in Rajkot, Gujarat has announced results for the quarter ended 30 June, 2022.
Standalone Financial Highlights
For the quarter ended 30 June 2022 the company reported total income of Rs 61.63 Cr as compared to Rs 53.1486 crores during the period ended March 31, 2022. For the corresponding period, the net profit stood at 10.21 Cr (Q1FY23) as against Rs 4.44 Cr (Q4FY22).
The company recorded impressive revenue growth of 163 per cent YoY, which grew from Rs 23.44 Cr (Q1FY22) to Rs 61.63 (Q1FY23). PAT rose 270 per cent YoY, growing from Rs 2.76 Cr (Q1FY22) to Rs 10.21 Cr (Q1FY23). The company reported EPS of Rs 4.33 (Q1FY23) as compared to Rs 1.17 (Q1FY22)
Radhika Jeweltech Ltd. has over 3 decades of goodwill with its customers. With 35 years' rich experience in gold and jewellery entrepreneurship, the promoters of RJL have in-depth knowledge of the industry as well as the local jewellery market of Rajkot.
Rajkot is the primary socioeconomic urban centre of the Saurashtra region and a major one in the state of Gujarat. Going forward, rapid urbanization, an expanding working-age population, growing economic opportunities, and rising disposable income along with the tradition of buying/investing in gold will drive demand for jewellery.
Ashok Zinzuwadia, the driving force behind the Company, laid the foundation of Radhika Jewellers back in 1987. Since then, Radhika Jeweltech Limited has experienced rapid growth and expanded from a small shop in soni bazar of Rajkot city in its initial stages to a huge showroom of 2500 sq. ft., which is now situated on palace road of Rajkot city.
The success of Radhika Jeweltech Limited can be attributed to their customer-centric philosophy, the quality standards of jewelry, best designs displayed to highly valued customers, outstanding selling skills of employees.
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