(MENAFNEditorial) MUMBAI, India, Feb. 21, 2018 /PRNewswire/ --Renaissance Jewellery Limited (BSE: RJL), a leading global manufacturer of fine jewelry declared its consolidated financial performance for the nine months ended 31st December 2017.
•Highest quarterly sales of USD 96.27 million ever recorded by the Company. • EBIDTA, PBT and PAT for nine months exceeds previous full year numbers.
• Consolidated Sales growth of 28% for 9-month period •Consolidated PAT for 9-month period increased by 55.1%
The Company has recorded a consolidated revenue of USD 215.35 million for the nine months ended December 31st, 2017 as compared to USD 168.21 million for the nine months ended December 31st, 2016. This reflects a growth of 28%.
The consolidated Profit Before Tax (PBT) for the nine months ended has increased significantly by 40.5% from USD 7.58 million to USD 10.65 million. The PBT for the current quarter stands at USD 5.75 million reflecting as against USD 4.92 million for the same period of the earlier year.
The consolidated Profit After Tax (PAT) for the nine months ended 31st December 2017 is USD 8.77 million as compared to USD 5.65 million for the same period last year translating to a robust growth of 55.1%. Mr Sumit Shah, Vice Chairman of the Company mentioned that "The Company's strategy of acquiring businesses complimentary to its product and client portfolio has helped in accelerating the growth of the Company. The robust growth during the current year has been possible by the seamless integration of the manufacturing unit acquired in Dubai in November 2016. The Company is constantly evaluating similar opportunities that are of strategic fit across the different geographical markets we have been operating". All currency has been converted from INR to USD based on the exchange rate on the last working day of December 2017
1 USD = 63.85969 INR.
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SOURCE Renaissance Jewellery Limited
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