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Renaissance Jewellery Doubles Profit In Q2
Acquisition in the UAE drove growth for Renaissance Jewellery in the first half of the current financial year.
18 Dec 2017, 03:59 PM IST 
Gold necklaces sit on display inside a Chow Tai Fook Jewellery Group Ltd. jewelry store in the Central district of Hong Kong (Photographer: Billy H.C. Kwok/Bloomberg)
Renaissance Jewellery Ltd. doubled its profit in the second quarter driven by its acquisition of a gold manufacturing unit in the UAE, Managing Director Hitesh Shah told BloombergQuint in an interview.
The company guided for 40-50 increase in percent next quarter, Shah said. Increased focus on higher value-added products lead to a margin expansion of 120 basis points to 6.8 percent, he added.