Bangalore based gold and diamond jewellery manufacturer Rajesh Exports has announced a net profit of Rs 54 crore for the second quarter of current fiscal. The company has registered a growth of 156 percent compared to same period last year. The revenue stood at Rs 2044 crore with a rise of 19 percent.

With the current excellent performance, the earnings per share has increased from Rs 5.73 to Rs 14.67. The stock is currently trading at a P/E of 25.64. The book value for the stock stood at Rs. 83.65.

The board of directors of the company will have a meeting on October 22, 2007 to consider a bonus issue and a stock split. The current face value of stock is Rs 2. The company plans to split it further into equity shares of Re 1 each.

Company chairman Mr. Rajesh Mehta said, "The results are in line with our projections. We have been working on margin expansion. I am pleased that the company's focus on margin expansion is bearing results."

The stock closed at Rs 865 on BSE with a loss of 2.35%. The stock has seen a tremendous gain in valuations over a period of one year. The 52-week low for the stock is Rs 135 on BSE. The stock has recently touched its high of Rs 987. The trading volume for Rajesh Exports was 93,641 for today.

The company has recently signed up Mr. Sharmila Tagore, the head of Indian Film Censor Board, as its Brand Ambassador.

The board has recently approved to raise the ceiling of shares held by FII's from the current 20% to 49%.