Rajesh Exports on a high profit growth

Rajesh Exports has recorded a massive growth of 125% in its net profits for its first quarter ended June 30, compared to the June 2006 quarter. The gold jewellery manufacturer�s net profit, for the said period is valued at $10.4 million (Rs.42.13 crore). Its net sales hiked by 24% to $501.42 million (Rs.2,030.24 crore) on a year-on-year basis and its profit margin for the April to June 2007 period was 2.07%, as against 1.23% last year. The firm intends to increase its profit margin to 10% within the next five years.