Radhika Jeweltech Ltd. Net Profit for 9MFY22 rises 83% YoY

Rajkot (Gujarat) [India], February 16: BSE listed, Radhika Jeweltech Ltd. (BSE: 540125), a renowned retail jewelry Company dealing in high-end Legacy jewelry including fine gold jewelry and diamond-studded jewelry are on a growth path with excellent results announced.

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For the quarter ended 31 December 2021, the revenue from operations grew to Rs. 92 Cr, a rise of 41% QoQ. PAT rose from Rs. 8.40 Cr (Q2FY22) to Rs. 11.27 Cr (Q3FY22), a rise of 34% QoQ. 

For 9 months ended 31 December 2021, the revenue jumped 120% YoY, from Rs. 82.45 Cr (9MFY21) to Rs. 181.57 Cr (9MFY22). PAT grew 83% YoY to 22.61 Cr (9MFY22).

Mr. 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. This combination ensures a loyal customer base all over.

Based on its potential for growth and value addition, the Government declared the gems and jewellery sector as a focus area for export promotion. The Government has undertaken various measures recently to promote investment and upgrade technology and skills to promote ‘Brand India’ in the international market.
The Government has permitted 100% FDI in the sector under the automatic route, wherein the foreign investor or the Indian company do not require any prior approval from the Reserve Bank or Government of India. 

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