Last Updated :
29 July 2010 at 11:00 IST
Renaissance Jewellery Q1 net shrinks to Rs.0.52cr
MUMBAI (Commodity Online): India’s leading gold jewellery maker and exporter, Renaissance Jewellery Ltd (BOM:532923) witnessed a slashing decline in the net profits for the first quarter of the current fiscal.
The company registered net profits of Rs.52.17 lakh for April-June period showing a steep fall from Rs.2.32 crore registered in the corresponding period last year.
In a filing with the Bombay Stock Exchange (BSE), the company informed that its net sales for the period stood at Rs.81.48 crore against Rs.90.69 crore registered a year back.
Renaissance Jewellery is primarily focused on the US markets, which has been struggling hard against economic slowdown for past several months.
The company stocks tumbled on the BSE this morning with loss of over 3% at Rs.77.
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