Raymond Q2 revenue up two per cent

For the second quarter Raymond revenue has grown two per cent. Ebitda is down 10 percent and profits are up 39 percent. Branded textile segment sales were two percent lower over previous year supported by a one percent growth in the suiting business on account of expansion to new smaller outlets through low priced products in the subdued consumer sentiment quarter. The ebitda margin is lower at 14.8 percent as compared to 15.1 percent in the previous year mainly due to an adverse product mix.

Branded apparel segment sales are up by nine per cent over previous year. Growth is driven by continued strong performance in the MBO channel, well supported by large formats. Ebitda margins improved to 3.8 percent, compared to 2.8 percent, mainly due to lower discretionary spends. Ebitda margins in luxury cotton shirting fabric improved to 16.7 percent as compared to 15.4 per cent in the previous year mainly due to a better product mix and operational efficiencies.