India's Rajesh Exports hits lowest level in over 8 years on Q3 profit slump

Rajesh Exports

15/02/2024 05:01

** Shares of Rajesh Exports  REXP.NS  down 6.4% at 315.20 rupees
    ** Stock fell as much as 10.9% earlier to 300.3 rupees,
posting lowest level since June 2015
    ** Jewellery maker's Q3 consolidated net profit after tax
falls around 97.1% Y/Y to 124.3 mln rupees ($1.5 mln)
    ** Net sales drop nearly 31%
    ** Stock posts biggest intraday pct loss since Dec; on track
for a second consecutive week of losses, if trends hold 
    ** More than 1.8 mln shares traded by 10:30 a.m. IST, 3.6x
the 30-day avg
    ** Stock down 14% so far this year, smaller than the 49.9%
loss in 2023    

($1 = 83.0050 Indian rupees)

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))