Rajesh Exports has announced its performance during the first quarter of 2008, which ended 30 June 2008. It recorded a declining net profit, with a fall of 18.27 percent. The net profit in the quarter amounted to Rs.344.35 million ($8.08 million), while in the corresponding period last year it was valued at Rs.421.36 million ($9.91 million). The figures are derived from the Bombay Stock Exchange. %% The net profit margin too dipped to 1.47 percent from last year, where it stood at 2.07 percent. However, net sales showed an upswing by 15 percent valued at Rs.23,321.61 million ($548.83 million). Last year, the jewellery manufacturer earned a net sales of Rs.20,302.42 million ($477.85 million) in the corresponding quarter ending June 30, 2008.